Guideline Value for JOTHI NAGAR

Jothi Nagar guideline value

The current guideline value of Jothi Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Mylapur village, under the Oothukkottai SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Jothi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 100 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 100 per sq.ft in the 2023 revision, reflecting a 49% increase from 2017. The 2024 revision maintains this value at Rs 100 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figure for Jothi Nagar in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has remained at Rs 100 per sq.ft.

Guideline values in Mylapur

In Mylapur, there are 10 streets under the Oothukkottai SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 100 per sq.ft, with a median also at Rs 100 per sq.ft. Jothi Nagar's 2024 figure is equal to this median.

• Balaji Nagar: Rs 100 per sq.ft (2024)
• Arunachala Nagar: Rs 100 per sq.ft (2024)
• Aalin Nagar: Rs 100 per sq.ft (2024)
• Sri Padmavathi Nagar: Rs 100 per sq.ft (2024)
• Sri Vaari Nagar: Rs 100 per sq.ft (2024)
• Venkateswara Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jothi Nagar?

The Sub Registrar Office that covers Jothi Nagar is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is officially recognized by the authorities.

When a property is sold, the registration fee and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Jothi Nagar?

The current guideline value of Jothi Nagar is Rs 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 fluctuations, starting at Rs 100 per sq.ft, decreasing to Rs 67 per sq.ft in 2017, and then returning to Rs 100 per sq.ft in 2023 and 2024.

What is the land classification for Jothi Nagar?

Jothi Nagar falls under the Residential Class I Type - I land classification, which is important for determining the use and development of the property.

Where can I find the Sub Registrar Office for Jothi Nagar?

The Sub Registrar Office for Jothi Nagar is located at the Oothukkottai Sub Registrar Office, near the government hospital in Uthukottai, 602026, Chennai registration zone.

How is stamp duty calculated for property in Jothi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 at 7% of the guideline value.