Guideline Value for Joseph Street

Joseph Street guideline value

The current guideline value of Joseph Street in Palavanthangal village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Joseph Street has changed

The guideline value of Joseph Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,250 per sq.ft, which saw a significant increase to Rs 3,500 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision. The 2023 revision marked another increase, bringing the value to Rs 3,500 per sq.ft, before the latest revision in 2024 raised it to Rs 3,900 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the increase was 11%. Overall, from 2007 to 2024, the guideline value has increased by 212%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with the median value being Rs 3,900 per sq.ft. Joseph Street's 2024 guideline value aligns with this median.

• John Desigan Street: Rs 4,400 per sq.ft (2024)
• Kabilar Street (alies) Yadhaval Street: Rs 3,900 per sq.ft (2024)
• James Street: Rs 3,300 per sq.ft (2024)
• Jaihind Street: Rs 3,300 per sq.ft (2024)
• Kannaiyaa Street Lane: Rs 3,900 per sq.ft (2024)
• Kannan Colony: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Joseph Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. 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 Joseph Street?

The Sub Registrar Office that covers Joseph 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 Palavanthangal

The guideline value is a crucial factor when registering property transactions in Palavanthangal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Joseph Street?

The current guideline value of Joseph Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 1,250 per sq.ft in 2007, increasing to Rs 3,500 per sq.ft in 2012, then decreasing to Rs 2,345 per sq.ft in 2017, and finally rising to Rs 3,900 per sq.ft in 2024.

What is the land classification for Joseph Street?

Joseph Street is classified under Residential Class I Type - III according to the local regulations.

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

The Sub Registrar Office for Joseph 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 Joseph Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at a rate of 7%.