Guideline Value for First Jothi Nagar Link Street

First Jothi Nagar Link Street guideline value

The current guideline value of First Jothi Nagar Link Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of First Jothi Nagar Link Street has changed

The guideline value for First Jothi Nagar Link Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft. The most recent 2024 revision increased this value to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous figure.

There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street in the register. The 2024 figure is the first update since 2012.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing First Jothi Nagar Link Street's 2024 figure below that median.

• Ganapathi Nagar: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ganapathi Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in First Jothi Nagar Link Street

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 cost to 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.

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

Which Sub Registrar Office covers First Jothi Nagar Link Street?

The Sub Registrar Office that covers First Jothi Nagar Link Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that buyers are aware of the financial obligations they will incur during the transaction.

Frequently asked questions

What is the current guideline value for First Jothi Nagar Link Street?

The current guideline value for First Jothi Nagar Link Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an 8% rise. There are no figures available for the years 2003, 2007, 2017, and 2023.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam have varying guideline values, with rates ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value in the area is Rs 2,400 per sq.ft.

How is stamp duty calculated for properties in First Jothi Nagar Link Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at a rate of 7%.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.