Guideline Value for West Kamokodi nagar Jagathguru 2nd cross street

West Kamokodi nagar Jagathguru 2nd cross street guideline value

The current guideline value of West Kamokodi nagar Jagathguru 2nd cross street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification is Residential Class I Type - II.

How the guideline value of West Kamokodi nagar Jagathguru 2nd cross street has changed

The guideline value for West Kamokodi nagar Jagathguru 2nd cross street has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 4,400 per sq.ft, a 10% increase 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 Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value for West Kamokodi nagar Jagathguru 2nd cross street is above this median.

• West Kamokodi nagar Jagathguru 1st cross street: Rs 4,400 per sq.ft (2024)
• West Kamokodi nagar Jagathguru 3rd cross street: Rs 4,400 per sq.ft (2024)
• West Kamokodi nagar Arunagiri street 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• West Kamokodi nagar Sundarar 4th Street: Rs 4,400 per sq.ft (2024)
• West Kamokodi nagar Arunagiri street 1st Cross Street: Rs 4,400 per sq.ft (2024)
• West Kamokodi nagar Velavan 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in West Kamokodi nagar Jagathguru 2nd cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West Kamokodi nagar Jagathguru 2nd cross street?

The West Kamokodi nagar Jagathguru 2nd cross street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Valasaravakkam, as it determines the minimum price at which a property can be registered. Buyers should be aware that the guideline value serves as a benchmark for calculating stamp duty and registration fees during the sale process.

When a property is sold, the registration office uses the guideline value to ensure that the transaction is recorded at a fair price. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value for West Kamokodi nagar Jagathguru 2nd cross street?

The current guideline value for West Kamokodi nagar Jagathguru 2nd cross street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for this street?

The land classification for West Kamokodi nagar Jagathguru 2nd cross street is Residential Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering West Kamokodi nagar Jagathguru 2nd cross street is the Virugambakkam SRO, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the stamp duty and registration fee for a property here?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.