Guideline Value

Corporate

Guideline Value for Joy Nagar 1st Street

₹2400/sq.ft.

The guideline value for Joy Nagar 1st Street in Madambakkam village (Selaiyur SRO, Chengalpattu zone) is Rs 2400 per sq.ft, effective 1 July 2024. It was Rs 2200 per sq.ft from 1 April 2023, a 9% change. The land classification is Commercial Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Madambakkam

Village

Selaiyur

SRO

Commercial Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹2400 /sq.ft.
From 1-4-2023 ₹2200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1474 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2200 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.36,bharathmatha Salai(opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur,chennai - 600 073.
044-22391102
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Joy Nagar 1st Street

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Joy Nagar 1st Street guideline value

The current guideline value of Joy Nagar 1st Street, located in Madambakkam village under the Selaiyur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - II land classification.

How the guideline value of Joy Nagar 1st Street has changed

The guideline value for Joy Nagar 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,400 per sq.ft, an increase from Rs 2,200 per sq.ft in 2023, marking a change of +9%. Prior to that, in 2017, the value was Rs 1,474 per sq.ft, which means there was a significant increase of +49% from 2017 to 2023. The 2012 revision also recorded a value of Rs 2,200 per sq.ft, which was a decrease of -33% from the previous revision in 2017.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by +9%.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO that have a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value across these streets is Rs 2,400 per sq.ft, which is equal to the current guideline value of Joy Nagar 1st Street.

Stamp duty and registration fee for property in Joy Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000. Together, the total cost for stamp duty and registration fee would be Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Joy Nagar 1st Street?

The Sub Registrar Office that covers Joy Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value is set by the Registration Department and is subject to periodic revisions.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. Therefore, understanding the current guideline value is essential for accurate financial planning in real estate transactions.

Frequently asked questions

What is the current guideline value of Joy Nagar 1st Street?

The current guideline value of Joy Nagar 1st Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024, which is a +9% increase. It was Rs 1,474 per sq.ft in 2017, showing a +49% increase from 2017 to 2023.

What is the land classification for Joy Nagar 1st Street?

Joy Nagar 1st Street is classified as Commercial Class I Type - II, which indicates its intended use for commercial activities.

Where can I find the Sub Registrar Office for Joy Nagar 1st Street?

The Sub Registrar Office for Joy Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Madambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 24,00,000, the stamp duty at 7% would be Rs 1,68,000.