Guideline Value

Corporate

Guideline Value for Joy Nagar

₹2400/sq.ft.

The guideline value for Joy Nagar 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

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Joy Nagar guideline value

The current guideline value of Joy Nagar in Madambakkam village is Rs 2,400 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Commercial Class I Type - II.

How the guideline value of Joy Nagar has changed

The guideline value for Joy Nagar 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. In 2023, the value increased to Rs 2,200 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,400 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 9% increase. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 figure 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.

Stamp duty and registration fee for property in Joy Nagar

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 be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. 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 Joy Nagar?

The Joy Nagar area is covered by 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 critical factor during property transactions in Madambakkam, as it determines the minimum price 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 guideline value serves as a benchmark for calculating stamp duty and registration fees. This ensures that all parties are aware of the financial obligations associated with the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Joy Nagar?

The current guideline value of Joy Nagar 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 land classification of Joy Nagar?

Joy Nagar is classified as Commercial Class I Type - II.

What are the other streets in Madambakkam with guideline values?

Other streets in Madambakkam include Joy Nagar 1st Street, Joy Nagar 2nd Street, Joy Nagar 3rd Street, and Joy Nagar Main Road, all valued at Rs 2,400 per sq.ft in 2024, while Jothi Venkatadchalam Nagar 3rd Main Road and Jothi Venkatachalam Nagar Main Road are valued at Rs 2,750 per sq.ft.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.