Guideline Value for Joyson Nagar (Garden)

Joyson Nagar (Garden) guideline value

The current guideline value of Joyson Nagar (Garden) is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Thirumudivakkam village and falls under the Padappai SRO, classified as Residential Special Type - I.

How the guideline value of Joyson Nagar (Garden) has changed

The guideline value for Joyson Nagar (Garden) has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and further rose to Rs 1,320 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,860 per sq.ft. The median guideline value is Rs 1,320 per sq.ft, which is the same as the guideline value for Joyson Nagar (Garden).

• Kalaignar Street: Rs 1,320 per sq.ft (2024)
• Harish Nagar Annex: Rs 880 per sq.ft (2024)
• Karpagam Nagar: Rs 660 per sq.ft (2024)
• Karpagam Nagar Annexe: Rs 660 per sq.ft (2024)
• Ganga Nagar: Rs 880 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Joyson Nagar (Garden)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. 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 Joyson Nagar (Garden)?

The Sub Registrar Office that covers Joyson Nagar (Garden) is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Thirumudivakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, which is important for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Joyson Nagar (Garden)?

The current guideline value of Joyson Nagar (Garden) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Joyson Nagar (Garden)?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000. The stamp duty at 7% amounts to Rs 92,400, and the registration fee at 2% is Rs 26,400, totaling Rs 1,18,800.

Which registration office covers Joyson Nagar (Garden)?

The Padappai Sub Registrar Office covers Joyson Nagar (Garden), located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Joyson Nagar (Garden)?

Joyson Nagar (Garden) is classified as Residential Special Type - I.