Guideline Value for Josier Street

Josier Street guideline value

The current guideline value of Josier Street in Nungambakkam village is Rs 9,300 per sq.ft, effective from 1 July 2024. This street falls under the Chennai Central Joint II SRO and is classified as Commercial Class I Type - III.

How the guideline value of Josier Street has changed

Over the years, the guideline value of Josier Street has seen significant changes. In 2007, the value was Rs 4,000 per sq.ft, which increased to Rs 8,500 per sq.ft in 2012. However, this figure dropped to Rs 5,695 per sq.ft in 2017. From 2017 to 2023, there was a notable increase of 49%, raising the value to Rs 8,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 9,300 per sq.ft, reflecting a 9% increase from the previous year.

There are no figures available for Josier Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 133%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Josier Street's 2024 figure above this median.

• Jhonty Garden: Rs 7,700 per sq.ft (2024)
• Kakkan Colony: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 1st Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 2nd Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 3rd Street: Rs 5,500 per sq.ft (2024)
• Kakkan Colony 4th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Josier Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value would be Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, making the total Rs 8,37,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Josier Street?

The Sub Registrar Office that covers Josier Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering a property in Nungambakkam. It determines the minimum price at which a property can be sold and is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it may impact the overall cost of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Josier Street?

The current guideline value of Josier Street is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 4,000 per sq.ft in 2007 to Rs 9,300 per sq.ft in 2024, marking an overall increase of 133%.

What is the land classification for Josier Street?

Josier Street is classified as Commercial Class I Type - III under the Chennai Central Joint II SRO.

Where can I find the registration office for Josier Street?

The registration office for Josier Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Josier Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 93,00,000 would incur a stamp duty of Rs 6,51,000 at 7%.