Guideline Value for Sri Janani Nagar

Sri Janani Nagar guideline value

The current guideline value of Sri Janani Nagar, located in Kolacheri village under the Kunrathur SRO, is Rs 660 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Janani Nagar has changed

Over the years, the guideline value of Sri Janani Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which then changed to Rs 402 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and further rose to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has risen by 10%, indicating a notable change in the property valuation over the years.

Guideline values in Kolacheri

In Kolacheri, there are 13 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,450 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the guideline value of Sri Janani Nagar.

• Sri Karumariamman Nagar Annexe: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar & Extn: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar Phase I: Rs 660 per sq.ft (2024)
• Sree Residency: Rs 660 per sq.ft (2024)
• Sri Panjali Amman Nagar: Rs 660 per sq.ft (2024)
• Sri Ponniamman Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Janani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, leading to a total cost of Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Janani Nagar?

The Sub Registrar Office covering Sri Janani Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolacheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that all transactions are fairly valued according to the established guidelines.

Frequently asked questions

What is the current guideline value of Sri Janani Nagar?

The current guideline value of Sri Janani Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Sri Janani Nagar?

Sri Janani Nagar falls under the Residential Class I Type - I land classification.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Sri Janani Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 46,200.