Guideline Value for lawyer jaganatha street

Lawyer Jaganatha Street guideline value

The current guideline value of Lawyer Jaganatha Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Alandur village under the Alandur SRO and is classified as Residential Class I Type - I.

How the guideline value of Lawyer Jaganatha Street has changed

Over the years, the guideline value for Lawyer Jaganatha Street has seen significant changes. The 2007 revision recorded a value of Rs 1,800 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, reflecting a decline of 33%. The next revision in 2023 saw the value rise to Rs 5,000 per sq.ft, which was then further increased to Rs 5,500 per sq.ft in the 2024 revision, a 10% increase.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Alandur

In Alandur, there are 40 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 3,900 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 5,000 per sq.ft, positioning Lawyer Jaganatha Street's 2024 value above this median.

• Marisan Street: Rs 4,400 per sq.ft (2024)
• Market Lane: Rs 5,500 per sq.ft (2024)
• Mathavapuram Centre Street: Rs 5,000 per sq.ft (2024)
• Mathavapuram East Street/Madhavapuram perumal East street: Rs 5,000 per sq.ft (2024)
• Mathavapuram North Street: Rs 5,000 per sq.ft (2024)
• Mathavapuram South Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Lawyer Jaganatha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. 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 Lawyer Jaganatha Street?

The Sub Registrar Office that covers Lawyer Jaganatha Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Alandur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Lawyer Jaganatha Street?

The current guideline value of Lawyer Jaganatha Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 206% over the years.

What is the stamp duty rate for properties in Alandur?

The stamp duty rate for properties in Alandur is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Lawyer Jaganatha Street located?

The Sub Registrar Office for Lawyer Jaganatha Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the guideline values of other streets in Alandur?

Other streets in Alandur have varying guideline values, with rates ranging from Rs 3,900 to Rs 11,000 per sq.ft. For example, Marisan Street has a guideline value of Rs 4,400 per sq.ft, while Market Lane matches Lawyer Jaganatha Street at Rs 5,500 per sq.ft.