Guideline Value for Johnson Street

Johnson Street guideline value

The current guideline value of Johnson Street in Tambaram village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

How the guideline value of Johnson Street has changed

Over the years, the guideline value of Johnson Street has seen significant changes. In the 2007 revision, the guideline value was Rs 400 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in the 2012 revision, marking a rise of 900%. However, the value dropped to Rs 2,680 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision set the value at Rs 4,000 per sq.ft, followed by a 10% increase to Rs 4,400 per sq.ft in the 2024 revision.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1000%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO carrying a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. Johnson Street’s 2024 guideline value of Rs 4,400 per sq.ft is above this median.

• Jothi Nagar: Rs 3,300 per sq.ft (2024)
• Jeeva Street: Rs 4,400 per sq.ft (2024)
• Kailasapuram 1st Street: Rs 2,200 per sq.ft (2024)
• Kailasapuram 2nd St: Rs 2,200 per sq.ft (2024)
• Kailasapuram 3rd St: Rs 2,200 per sq.ft (2024)
• Kailasapuram 4th st: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Johnson Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. It is important to note that 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 Johnson Street?

The Sub Registrar Office that covers Johnson 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 information.

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

The guideline value is a crucial factor in property registration in Tambaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the value of the property in the eyes of the law. It is essential to consider this value when negotiating property transactions to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Johnson Street?

The current guideline value of Johnson Street is Rs 4,400 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 400 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1000%.

What is the land classification for Johnson Street?

Johnson Street is classified as Residential Special Type - II under the guideline value register.

Where can I find the registration office for Johnson Street?

The registration office for Johnson Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Johnson Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 4,400 per sq.ft would incur a stamp duty of Rs 3,08,000.