Guideline Value for St. Joseph Garden Extension

St. Joseph Garden Extension guideline value

The current guideline value of St. Joseph Garden Extension is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of St. Joseph Garden Extension has changed

The guideline value for St. Joseph Garden Extension has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 1,200 per sq.ft. The most recent revision in 2024 shows an increase to Rs 1,300 per sq.ft, marking an 8% increase from the 2012 figure.

There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 in the register for this street. Thus, the only figures available are from 2012 and 2024.

Guideline values in Madhavaram

The guideline values for the 1,946 streets in Madhavaram under the Madhavaram SRO range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for St. Joseph Garden Extension is below this median.

• St. Joseph Garden: Rs 1,300 per sq.ft (2024)
• St. Joseph Garden (Ward-10): Rs 1,300 per sq.ft (2024)
• St.Francis Colony (Ward No.19): Rs 2,200 per sq.ft (2024)
• St. Francis Colony: Rs 2,200 per sq.ft (2024)
• Subam Avenue 1st Street (Ward-02): Rs 1,600 per sq.ft (2024)
• Subam Avenue 2nd Street (Ward-02): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in St. Joseph Garden Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total charges Rs 1,17,000. 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 detailed calculations.

Which Sub Registrar Office covers St. Joseph Garden Extension?

The Sub Registrar Office covering St. Joseph Garden Extension is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must refer to the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is considered to ensure that the transaction reflects the official valuation set by the authorities. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value for St. Joseph Garden Extension?

The current guideline value for St. Joseph Garden Extension is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, representing an 8% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. It is the office that covers St. Joseph Garden Extension.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that the property is valued fairly according to official standards, maintaining transparency in the real estate market.