Guideline Value for JOSEPH STREET

Joseph Street guideline value

The current guideline value of Joseph Street in Vallur village is Rs 220 per sq.ft, effective from 1 July 2024. This street falls under the Thiruvottiyur SRO and is classified as Residential Class II Type - I.

How the guideline value of Joseph Street has changed

The guideline value for Joseph Street has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 134 per sq.ft. This figure increased significantly to Rs 200 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 220 per sq.ft, which represents a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for Joseph Street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Vallur

In Vallur, there are a total of 75 streets under the Thiruvottiyur SRO that have a 2024 guideline value, ranging from Rs 220 to Rs 551 per sq.ft. The median guideline value for these streets is Rs 220 per sq.ft, which is equal to the current guideline value for Joseph Street.

• J.R. Nagar: Rs 220 per sq.ft (2024)
• Kairali Nagar: Rs 220 per sq.ft (2024)
• Jaya Nagar: Rs 220 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 220 per sq.ft (2024)
• Kamatchi Nagar: Rs 220 per sq.ft (2024)
• Kamatchi Puram: Rs 220 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 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, while the registration fee at 2% would be Rs 4,400, making the total fees Rs 19,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Joseph Street?

The Sub Registrar Office that covers Joseph Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable taxes, ensuring that both the buyer and seller are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Joseph Street?

The current guideline value of Joseph Street is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, and then to Rs 220 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What is the land classification for Joseph Street?

Joseph Street is classified as Residential Class II Type - I under the Thiruvottiyur SRO.

Where can I find the Sub Registrar Office for Joseph Street?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Joseph Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 2,20,000 would incur a stamp duty of Rs 15,400 at 7%.