Guideline Value for St. Joseph Garden

St. Joseph Garden guideline value

The current guideline value of St. Joseph Garden 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 has changed

In the 2012 revision, the guideline value for St. Joseph Garden was Rs 1,200 per sq.ft. This figure remained unchanged until the 2023 revision, where it was again Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2012 to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that St. Joseph Garden's 2024 figure is below that median.

• St. Joseph Garden Extension: 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

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 amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. 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 St. Joseph Garden?

St. Joseph Garden is covered by 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 is a critical factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair value.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of St. Joseph Garden?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 8% over this period.

What is the stamp duty rate for property transactions in St. Joseph Garden?

The stamp duty rate for property transactions in St. Joseph Garden is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of property transactions in the area.

What are the other streets with guideline values in Madhavaram?

Other streets in Madhavaram include St. Joseph Garden Extension and St. Francis Colony, with guideline values ranging from Rs 1,300 to Rs 2,200 per sq.ft as of 2024.