Guideline Value for Joshia Nagar

Joshia Nagar guideline value

The current guideline value of Joshia Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Joshia Nagar has changed

The guideline value for Joshia Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and finally, it rose to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Joshia Nagar is below this median.

• Kabaleeswaran Nagar: Rs 1,650 per sq.ft (2024)
• Kabhi Nagar: Rs 1,650 per sq.ft (2024)
• Kalaam Nagar: Rs 990 per sq.ft (2024)
• Jashmine Nagar: Rs 1,100 per sq.ft (2024)
• Kalpataru Guru Ganesh Avenue Phase-I: Rs 2,480 per sq.ft (2024)
• Janakpurai Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Joshia Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. 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 Joshia Nagar?

The Sub Registrar Office that covers Joshia Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Varadarajapuram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Joshia Nagar?

The current guideline value of Joshia Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Joshia Nagar?

Joshia Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

How does the guideline value compare to other streets in Varadarajapuram?

The guideline value of Joshia Nagar is below the median value of Rs 1,650 per sq.ft for the 250 streets in Varadarajapuram under the Padappai SRO.

Where can I find the Sub Registrar Office for Joshia Nagar?

The Sub Registrar Office for Joshia Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.