Guideline Value for JOTHI MANGALA NAGAR

Jothi Mangala Nagar guideline value

The current guideline value of Jothi Mangala Nagar 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 has changed

In the 2012 revision, the guideline value was set at Rs 1,800 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value significantly increased 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. The register has no figures for the years 2002, 2003, and 2007 for this street.

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. Jothi Mangala Nagar's 2024 figure is below this median.

• Jothi Mangala Nagar Extension: Rs 2,100 per sq.ft (2024)
• Jayanthi Nagar: Rs 2,700 per sq.ft (2024)
• Kakanji Street: Rs 1,950 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

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, while the registration fee at 2% would be Rs 42,000, bringing the total 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 information.

Which Sub Registrar Office covers Jothi Mangala Nagar?

The Sub Registrar Office covering Jothi Mangala Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for additional details.

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

The guideline value is a crucial factor during property transactions in Chitthalapakkam. It serves as a base for calculating stamp duty and registration fees, which are mandatory for property registration. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately assess the costs involved in the transaction.

When a property is sold, the guideline value may influence the sale price, as it provides a standard reference for valuation. However, the actual sale price can be higher or lower than the guideline value, and the registration fees will be based on whichever amount is greater.

Frequently asked questions

What is the current guideline value of Jothi Mangala Nagar?

The current guideline value of Jothi Mangala Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes, starting from Rs 1,800 per sq.ft in 2012, decreasing to Rs 1,206 per sq.ft in 2017, then increasing to Rs 2,000 per sq.ft in 2023, and finally reaching Rs 2,100 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Jothi Mangala Nagar?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Jothi Mangala Nagar?

The Selaiyur Sub Registrar Office handles property registrations for Jothi Mangala Nagar. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Jothi Mangala Nagar?

Jothi Mangala Nagar is classified as Residential Class II Type - I. This classification is important for understanding the zoning and permissible uses of the land.