Guideline Value for JOSEPH STREET

Joseph Street guideline value

The current guideline value of Joseph Street in Perambur village, under the Purasaivakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Joseph Street has changed

The guideline value for Joseph Street has seen several revisions over the years. The earliest recorded figure is from 2002, set at Rs 336 per sq.ft. This value increased to Rs 369 per sq.ft in 2003, marking a 10% rise. The subsequent revision in 2007 saw a significant jump to Rs 500 per sq.ft, which is an increase of 36%. The 2012 revision brought the value up to Rs 2,000 per sq.ft, reflecting a substantial 300% increase from the previous figure. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%.

From 2017 to 2023, the guideline value rose sharply to Rs 2,000 per sq.ft, a notable increase of 49%. The most recent revision in 2024 has set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year. There are no figures available for Joseph Street in the revisions for years not listed in the records.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Joseph Street's 2024 figure is below this median.

• Joseph Technical Institute: Rs 2,200 per sq.ft (2024)
• J.J.Road: Rs 3,800 per sq.ft (2024)
• Jothi Ramalingam Street: Rs 2,700 per sq.ft (2024)
• Justice Paramasivam Street: Rs 2,700 per sq.ft (2024)
• Jegajeevanram Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 8th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Joseph Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Joseph Street?

The Sub Registrar Office that covers Joseph Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai-600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Perambur. It determines the minimum value at which a property can be sold and is used to calculate the stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the duty is charged based on the sale price, ensuring that the registration reflects the true market conditions.

Frequently asked questions

What is the current guideline value of Joseph Street?

The current guideline value of Joseph Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 336 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 555% over the years.

What is the land classification of Joseph Street?

Joseph Street is classified under Residential Class IV Type - I, which indicates its use for residential purposes.

What are the stamp duty and registration fees for properties in Joseph Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Joseph Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai-600 012, is responsible for Joseph Street.