Guideline Value for SAIGANESH NAGAR 12TH CROSS STREET

Saiganesh Nagar 12th Cross Street guideline value

The current guideline value of Saiganesh Nagar 12th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification is Residential Class II Type - I.

How the guideline value of Saiganesh Nagar 12th Cross Street has changed

Over the years, the guideline value of Saiganesh Nagar 12th Cross Street has seen several revisions. The 2012 revision set the guideline value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 2,000 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which aligns with the current guideline value of Saiganesh Nagar 12th Cross Street.

• Saiganesh Nagar 11th Cross Street: Rs 2,200 per sq.ft (2024)
• Saiganesh Nagar 13rd Cross Street: Rs 2,200 per sq.ft (2024)
• Saiganesh Nagar 10th Cross Street: Rs 2,200 per sq.ft (2024)
• Saiganesh Nagar 17th Cross Street: Rs 2,200 per sq.ft (2024)
• Saiganesh Nagar 18th Cross Street: Rs 2,200 per sq.ft (2024)
• Saiganesh Nagar 19th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Saiganesh Nagar 12th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saiganesh Nagar 12th Cross Street?

Saiganesh Nagar 12th Cross Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Jelandianpettai

The guideline value is a crucial factor when registering property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property being exchanged. It is essential for buyers and sellers to be aware of the current guideline values to facilitate smooth transactions and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Saiganesh Nagar 12th Cross Street?

The current guideline value of Saiganesh Nagar 12th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing significant fluctuations over the years.

What are the other streets in Jelandianpettai with the same guideline value?

Other streets in Jelandianpettai with the same guideline value of Rs 2,200 per sq.ft include Saiganesh Nagar 11th Cross Street, Saiganesh Nagar 13rd Cross Street, Saiganesh Nagar 10th Cross Street, Saiganesh Nagar 17th Cross Street, Saiganesh Nagar 18th Cross Street, and Saiganesh Nagar 19th Cross Street.

What is the stamp duty rate for property in Saiganesh Nagar 12th Cross Street?

The stamp duty rate for property transactions in Saiganesh Nagar 12th Cross Street is 7% of the guideline value. This duty is calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Saiganesh Nagar 12th Cross Street?

The Sub Registrar Office covering Saiganesh Nagar 12th Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.