Guideline Value for Joseph Street First Street

Joseph Street First Street guideline value

The current guideline value for Joseph Street First 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 Street First Street has changed

The guideline value for Joseph Street First Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 4,000 per sq.ft. However, this figure decreased to Rs 2,680 per sq.ft in the 2017 revision. Following this, the 2023 revision marked an increase to Rs 4,000 per sq.ft, and the most recent 2024 revision has further raised it to Rs 4,400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Joseph Street First Street is above this median.

• Joseph 2nd Street: Rs 4,400 per sq.ft (2024)
• Joseph 1st 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 Street First 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, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Joseph Street First Street?

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

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

The guideline value is a crucial factor in property transactions in Nanganallur. It serves as a reference point for determining the stamp duty and registration fees that are applicable during the registration of property transactions. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that both parties are aware of the financial obligations involved. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Joseph Street First Street?

The current guideline value of Joseph Street First 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 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Joseph Street First Street?

Joseph Street First Street is classified as Residential Class I Type - I, indicating its designation for residential use.

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

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

How is stamp duty calculated for properties in Nanganallur?

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