Guideline Value for Joseph 2nd Street

Joseph 2nd Street guideline value

The current guideline value of Joseph 2nd Street in Nanganallur village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Joseph 2nd Street has changed

The guideline value for Joseph 2nd Street has seen significant changes over the years. In 2002, the value was Rs 338 per sq.ft, which increased to Rs 384 per sq.ft in 2003. The value then rose dramatically to Rs 1,750 per sq.ft in 2007, followed by a further increase to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023 before reaching the current value of Rs 4,400 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 10% increase. The overall change from 2002 to 2024 shows an increase of 1202% in the guideline value for this street.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Joseph 2nd Street's current value above this median.

• Joseph 1st 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 2nd 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, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Joseph 2nd Street?

The Sub Registrar Office that covers Joseph 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Nanganallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in the buying and selling process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with local regulations and avoid any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Joseph 2nd Street?

The current guideline value of Joseph 2nd 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 increased from Rs 338 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 1202%.

What is the stamp duty for property in Joseph 2nd Street?

The stamp duty for property in Joseph 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Joseph 2nd Street?

The Sub Registrar Office for Joseph 2nd Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Joseph 2nd Street?

Joseph 2nd Street is classified as Residential Class I Type - I.