Guideline Value for JOEL VILLA

Joel Villa guideline value

The current guideline value of Joel Villa, located in Kaspapuram village under the Tambaram Joint 1 SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Joel Villa has changed

The guideline value of Joel Villa has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. However, the value rose significantly in the 2023 revision to Rs 1,500 per sq.ft, and then further increased to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

Kaspapuram village features a total of 76 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Joel Villa's 2024 figure above that median.

• Jayalalitha Street: Rs 1,100 per sq.ft (2024)
• Indra Gandhi Street: Rs 550 per sq.ft (2024)
• Kamaraj Street: Rs 550 per sq.ft (2024)
• Karunya Street: Rs 550 per sq.ft (2024)
• Kaspapuram Main Road.: Rs 660 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Joel Villa

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Joel Villa?

The Sub Registrar Office that covers Joel Villa is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kaspapuram. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through 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 applicable stamp duty and registration fees. This process ensures that the transaction is legally documented and that the necessary taxes are collected.

Frequently asked questions

What is the current guideline value of Joel Villa?

The current guideline value of Joel Villa is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase overall during this period.

What is the land classification for Joel Villa?

The land classification for Joel Villa is Residential Special Type - I, indicating its suitability for residential purposes.

What is the stamp duty for property in Joel Villa?

The stamp duty for property in Joel Villa is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Joel Villa located?

The Sub Registrar Office for Joel Villa is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.