Guideline Value for JOTHI NAGAR/MAIN ROADS/CROSS STREETS

Jothi Nagar/Main Roads/Cross Streets guideline value

The current guideline value for Jothi Nagar/Main Roads/Cross Streets is Rs 1,800 per sq.ft, effective from 1 July 2024. This area is located in Ernavur village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Jothi Nagar/Main Roads/Cross Streets has changed

The guideline value for Jothi Nagar/Main Roads/Cross Streets has seen several revisions over the years. The 2007 revision set the value at Rs 350 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in 2012. However, this value dropped to Rs 1,139 per sq.ft in 2017. The 2023 revision raised it to Rs 1,700 per sq.ft, and the most recent 2024 revision has further increased it to Rs 1,800 per sq.ft. Notably, there are no figures available for this street in the 2002 and 2003 revisions.

In terms of percentage changes, the value increased by 386% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following this, there was a substantial increase of 49% from 2017 to 2023. The latest change from 2023 to 2024 reflects a 6% increase, resulting in an overall increase of 414% from the 2007 revision to the current value in 2024.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Jothi Nagar/Main Roads/Cross Streets above this median.

• Jayanthi Nagar: Rs 1,600 per sq.ft (2024)
• Jayalailtha nagar: Rs 1,600 per sq.ft (2024)
• Kamalammal Street: Rs 1,800 per sq.ft (2024)
• Kamarajar Nagar/ Main Streets/ Cross Streets: Rs 1,600 per sq.ft (2024)
• Jaihith Nagar: Rs 1,800 per sq.ft (2024)
• Indra Gandhi Kuppam: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar/Main Roads/Cross Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000. Together, the total charges would be Rs 1,62,000. 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 further calculations.

Which Sub Registrar Office covers Jothi Nagar/Main Roads/Cross Streets?

The Sub Registrar Office that covers Jothi Nagar/Main Roads/Cross Streets is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process for property transactions in Ernavur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is assessed to ensure that the transaction is recorded accurately. This value helps in maintaining transparency and fairness in property dealings, ensuring that the appropriate fees are collected based on the established rates.

Frequently asked questions

What is the current guideline value for Jothi Nagar/Main Roads/Cross Streets?

The current guideline value for Jothi Nagar/Main Roads/Cross Streets is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2024, reflecting an overall increase of 414% over this period.

What is the land classification for Jothi Nagar/Main Roads/Cross Streets?

The land classification for Jothi Nagar/Main Roads/Cross Streets is Residential Special Type - II.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Jothi Nagar/Main Roads/Cross Streets?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,26,000.