Guideline Value for Joseph 1st Street

Joseph 1st Street guideline value

The current guideline value of Joseph 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Joseph 1st Street has changed

The guideline value for Joseph 1st Street has undergone several revisions over the years. In 2002, the value was Rs 338 per sq.ft, which increased to Rs 384 per sq.ft in 2003, marking a 14% rise. The value saw a significant increase to Rs 1,200 per sq.ft in 2007, representing a 213% change. This was followed by a decrease to Rs 4,000 per sq.ft in 2012, a drop of 33%. The value then increased to Rs 2,680 per sq.ft in 2017, reflecting a 49% rise. The guideline value further increased to Rs 4,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in the years not listed. The overall change from 2002 to 2024 is an increase of 1202% in the guideline value.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that have a guideline value for 2024, ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value in the village is Rs 3,900 per sq.ft, making the current value of Joseph 1st Street above this median.

• Joseph 2nd Street: Rs 4,400 per sq.ft (2024)
• Joseph Street First Street: Rs 4,400 per sq.ft (2024)
• John Desikan Street: Rs 3,300 per sq.ft (2024)
• Kadhar Thottam: Rs 3,300 per sq.ft (2024)
• Jayaram Naidu Street (Jayaram Street): Rs 2,800 per sq.ft (2024)
• Jain College: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Joseph 1st 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 amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Joseph 1st Street?

The Sub Registrar Office that covers Joseph 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nanganallur. 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 buyer and seller must consider the guideline value to ensure compliance with the registration department's requirements. This value is essential for calculating the total costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Joseph 1st Street?

The current guideline value of Joseph 1st 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 from Rs 338 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 1202% over the years.

What is the land classification of Joseph 1st Street?

Joseph 1st Street is classified as Residential Class I Type - I under the Alandur SRO.

Where can I find the registration office for Joseph 1st Street?

The registration office for Joseph 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Nanganallur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.