Guideline Value for V.N. Janaki Street

V.N. Janaki Street guideline value

The current guideline value of V.N. Janaki Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and falls under the Residential Class IV Type - II land classification.

How the guideline value of V.N. Janaki Street has changed

The guideline value for V.N. Janaki Street has undergone several revisions over the years. The 2007 revision set the value at Rs 620 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 432%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, indicating that V.N. Janaki Street's 2024 figure is below this median.

• V.O.C. 1st Cross Street (1st Street): Rs 6,600 per sq.ft (2024)
• V.O.C. 1st Main Road: Rs 7,600 per sq.ft (2024)
• V.O.C. 2nd Cross Street (2nd Street): Rs 6,600 per sq.ft (2024)
• V.O.C. 2nd Main Road: Rs 7,600 per sq.ft (2024)
• V.O.C. 3rd Cross Street (3rd Street): Rs 6,600 per sq.ft (2024)
• V.O.C. 4th Cross Street (4th Street): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in V.N. Janaki Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.N. Janaki Street?

The Sub Registrar Office that covers V.N. Janaki Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum price at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate the stamp duty and registration fees during the transfer of property ownership.

When purchasing property, it is essential to ensure that the sale price is in line with the guideline value to avoid any legal issues during registration. The registration process requires adherence to these values to maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of V.N. Janaki Street?

The current guideline value of V.N. Janaki Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 620 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 432%.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam under the Ashok Nagar SRO have varying guideline values, with rates ranging from Rs 2,200 to Rs 11,000 per sq.ft. Notable examples include V.O.C. 1st Main Road at Rs 7,600 per sq.ft and V.O.C. 1st Cross Street at Rs 6,600 per sq.ft.

How is the stamp duty calculated for properties in V.N. Janaki Street?

The stamp duty for properties in V.N. Janaki Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

Where is the Sub Registrar Office for V.N. Janaki Street located?

The Sub Registrar Office for V.N. Janaki Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.