Guideline Value for Joy Nagar Main Road
₹2400/sq.ft.
The guideline value for Joy Nagar Main Road 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]
Records for a plot on Joy Nagar Main Road
- Patta chitta: who holds the survey number and its extent, free
- Encumbrance certificate (EC): every registered sale and mortgage on it
- FMB sketch and the village map: its boundary and neighbours
- Selaiyur sub-registrar office: address, phone and every village it registers
- Stamp duty and registration fee on this guideline value
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Joy Nagar Main Road guideline value
The current guideline value of Joy Nagar Main Road in Madambakkam village is Rs 2,400 per sq.ft, effective from 1 July 2024. This property falls under the Selaiyur SRO and is classified as Commercial Class I Type - II.
How the guideline value of Joy Nagar Main Road has changed
The guideline value for Joy Nagar Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.
From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a 9% increase in the guideline value.
Guideline values in Madambakkam
In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which is equal to the current value of Joy Nagar Main Road.
- Joy Nagar 3rd Street: Rs 2,400 per sq.ft (2024)
- Joy Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
- Joy Nagar 1st Street: Rs 2,400 per sq.ft (2024)
- Joy Nagar: Rs 2,400 per sq.ft (2024)
- Jothi Venkatadchalam Nagar 3rd Main Road: Rs 2,750 per sq.ft (2024)
- Jothi Venkatachalam Nagar Main Road: Rs 2,750 per sq.ft (2024)
Stamp duty and registration fee for property in Joy Nagar Main Road
For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total charges Rs 2,16,000. 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.
Which Sub Registrar Office covers Joy Nagar Main Road?
The Sub Registrar Office that covers Joy Nagar Main Road 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. You can find your SRO for more information.
How the guideline value is used when you buy or sell in Madambakkam
The guideline value is a crucial factor in the registration process for property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.
When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.
Frequently asked questions
What is the current guideline value of Joy Nagar Main Road?
The current guideline value of Joy Nagar Main Road 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 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.
What is the classification of land on Joy Nagar Main Road?
The land classification for Joy Nagar Main Road is Commercial Class I Type - II.
What are the stamp duty and registration fees for property transactions?
The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 2,16,000 in charges.
Which office handles the registration for Joy Nagar Main Road?
The Selaiyur Sub Registrar Office handles the registration for Joy Nagar Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.
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