Guideline Value for JOTHI MANGALA NAGAR EXTENSION

Jothi Mangala Nagar Extension guideline value

The current guideline value for Jothi Mangala Nagar Extension is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Chitthalapakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Jothi Mangala Nagar Extension has changed

The guideline value for Jothi Mangala Nagar Extension has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which decreased to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a rise of 66%. The most recent revision in 2024 has further increased the guideline value to Rs 2,100 per sq.ft, which is a 5% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 17%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. The guideline value for Jothi Mangala Nagar Extension is below this median.

• Jothi Mangala Nagar: Rs 2,100 per sq.ft (2024)
• Kakanji Street: Rs 1,950 per sq.ft (2024)
• Jayanthi Nagar: Rs 2,700 per sq.ft (2024)
• Jayam Avenue: Rs 3,300 per sq.ft (2024)
• Kalaingar Street: Rs 1,950 per sq.ft (2024)
• Kamaraj Avenue: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Mangala Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total cost for these fees to Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jothi Mangala Nagar Extension?

The Sub Registrar Office that covers Jothi Mangala Nagar Extension is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Chitthalapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware that the guideline value is used for calculating these fees, ensuring transparency in property transactions.

When a property is sold, the guideline value helps in assessing the official value of the property, which can affect the overall cost of the transaction. It is essential for both parties to understand the implications of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jothi Mangala Nagar Extension?

The current guideline value of Jothi Mangala Nagar Extension is Rs 2,100 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 2,000 per sq.ft in 2023, and finally to Rs 2,100 per sq.ft in 2024.

What is the land classification for Jothi Mangala Nagar Extension?

Jothi Mangala Nagar Extension is classified as Residential Class II Type - I.

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

For a property valued at Rs 21,00,000, the stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, totaling Rs 1,89,000.

Where is the Sub Registrar Office located for Jothi Mangala Nagar Extension?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.