Guideline Value for Joy Garden

Joy Garden guideline value

The current guideline value of Joy Garden, located in Pillaippakkam-A village under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Joy Garden has changed

The guideline value for Joy Garden has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 400 per sq.ft, which remains unchanged from the 2023 revision. Prior to that, in 2017, the guideline value was Rs 268 per sq.ft, marking a significant increase of 49% from 2017 to 2023, and an overall increase of 49% from 2017 to 2024.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only available figures are from the 2017, 2023, and 2024 revisions.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,254 per sq.ft, with a median value of Rs 300 per sq.ft. Joy Garden's 2024 figure of Rs 400 per sq.ft is above this median.

• Jasmine Nagar: Rs 200 per sq.ft (2024)
• Kammalar Nagar: Rs 200 per sq.ft (2024)
• Guberan Nagar Part - II: Rs 840 per sq.ft (2024)
• Guberan Nagar: Rs 1,254 per sq.ft (2024)
• Kulakkarai Street: Rs 200 per sq.ft (2024)
• Ganapathy Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Joy Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees.

Which Sub Registrar Office covers Joy Garden?

The Joy Garden area falls under the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pillaippakkam-A

The guideline value is a crucial factor in the registration process when buying or selling property in Pillaippakkam-A. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must ensure that the sale price is not lower than the guideline value. This ensures that the government receives the appropriate revenue from the transaction through stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Joy Garden?

The current guideline value of Joy Garden is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2023 to 2024, and it increased by 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2024.

What is the land classification of Joy Garden?

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

What are the stamp duty and registration fees for properties in Joy Garden?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Joy Garden?

The Sriperumpudur Sub Registrar Office handles registrations for Joy Garden, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.