Guideline Value for Jerusalem Nagar (Joseph Street)

Jerusalem Nagar (Joseph Street) guideline value

The current guideline value of Jerusalem Nagar (Joseph Street) is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village under the Tambaram Joint 1 SRO, classified as Residential Special Type - I.

How the guideline value of Jerusalem Nagar (Joseph Street) has changed

The guideline value for Jerusalem Nagar (Joseph Street) has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,300 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 1,541 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 2,300 per sq.ft, marking a 49% rise. The latest revision in 2024 set the guideline value at Rs 2,530 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Jerusalem Nagar (Joseph Street) above this median.

• Jerusalem Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Jeruselam Nagar Nehru Street: Rs 2,200 per sq.ft (2024)
• Jerusalem Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Jerusalem Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Jerusalem Nagar: Rs 2,530 per sq.ft (2024)
• Jerusalam NagarExt: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jerusalem Nagar (Joseph Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, making the total cost for these fees Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jerusalem Nagar (Joseph Street)?

The Sub Registrar Office that covers Jerusalem Nagar (Joseph Street) 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 details.

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

The guideline value plays a crucial role in the registration of property transactions in Irumpuliyur. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on whichever amount is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jerusalem Nagar (Joseph Street)?

The current guideline value of Jerusalem Nagar (Joseph Street) is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification for Jerusalem Nagar (Joseph Street)?

Jerusalem Nagar (Joseph Street) is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100, and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Where can I find the Sub Registrar Office for Jerusalem Nagar (Joseph Street)?

The Sub Registrar Office for Jerusalem Nagar (Joseph Street) is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.