Guideline Value for St. Johnson Street

St. Johnson Street guideline value

The current guideline value of St. Johnson Street in Erukancherry village is Rs 1,900 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class V Type - I.

How the guideline value of St. Johnson Street has changed

St. Johnson Street has seen several revisions in its guideline value over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and further rose to Rs 1,900 per sq.ft in the 2024 revision, reflecting a 6% increase.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. The register has no figures for St. Johnson Street for the years 2002, 2003, and 2007.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing St. Johnson Street's 2024 value below this median.

• St. Luthern Mada Street: Rs 1,900 per sq.ft (2024)
• St. Pauls Street: Rs 1,900 per sq.ft (2024)
• St. Peters Street: Rs 2,200 per sq.ft (2024)
• St. Andrews Street: Rs 2,200 per sq.ft (2024)
• Subramanium Street: Rs 2,200 per sq.ft (2024)
• Srinivasa Perumal Kovil Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in St. Johnson Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers St. Johnson Street?

The Sub Registrar Office that covers St. Johnson Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Erukancherry. It determines the minimum value at which a property can be registered and is essential for calculating stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both parties. It ensures that the transaction is recorded at a fair value, which is necessary for legal and tax purposes.

Frequently asked questions

What is the current guideline value of St. Johnson Street?

The current guideline value of St. Johnson Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for St. Johnson Street?

St. Johnson Street is classified as Residential Class V Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for property in St. Johnson Street?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles registrations for St. Johnson Street?

The Madhavaram Sub Registrar Office handles registrations for St. Johnson Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.