Guideline Value for MARY JOSEPH NAGAR

Mary Joseph Nagar guideline value

The current guideline value of Mary Joseph Nagar is Rs 448 per sq.ft, effective from 1 July 2024. This locality is situated in Janagipuram village under the Madurandakam SRO, classified as Residential Class II Type - I.

How the guideline value of Mary Joseph Nagar has changed

The guideline value for Mary Joseph Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2023 revision. As of the 2024 revision, the guideline value is Rs 448 per sq.ft, marking a 49% increase from the 2017 figure.

It is noteworthy that the guideline value remained consistent at Rs 448 per sq.ft from the 2023 revision to the 2024 revision, indicating no change during this period. Additionally, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Janagipuram

In Janagipuram, five streets under the Madurandakam SRO have a 2024 guideline value ranging from Rs 200 to Rs 448 per sq.ft, with a median value of Rs 300 per sq.ft. Mary Joseph Nagar’s 2024 figure is above this median, reflecting its higher valuation.

• Jr Garden: Rs 300 per sq.ft (2024)
• Jai Nagar Phase-II: Rs 200 per sq.ft (2024)
• Jai Nagar: Rs 200 per sq.ft (2024)
• Vip City Central Square Radha Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Mary Joseph Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 448 per sq.ft, the total guideline value amounts to Rs 4,48,000. The stamp duty at 7% would be Rs 31,360, and the registration fee at 2% would be Rs 8,960, bringing the total cost for these fees to Rs 40,320. Duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimates based on your property details.

Which Sub Registrar Office covers Mary Joseph Nagar?

The Sub Registrar Office covering Mary Joseph Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Janagipuram, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of Mary Joseph Nagar?

The current guideline value of Mary Joseph Nagar is Rs 448 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, from Rs 300 per sq.ft to Rs 448 per sq.ft in 2024. There was no change from 2023 to 2024.

What is the land classification for Mary Joseph Nagar?

Mary Joseph Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Mary Joseph Nagar?

For a property valued at Rs 4,48,000, the stamp duty would be Rs 31,360 and the registration fee would be Rs 8,960, totaling Rs 40,320. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mary Joseph Nagar?

The Madurandakam Sub Registrar Office, which covers Mary Joseph Nagar, is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.