Guideline Value for JOTHI NAGAR

Jothi Nagar guideline value

The current guideline value of Jothi Nagar, located in Athipattu village under the Thiruvottiyur SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Jothi Nagar has changed

The guideline value for Jothi Nagar has undergone several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 201 per sq.ft. This increased to Rs 300 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the guideline value at Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Athipattu

Athipattu village has 108 streets under the Thiruvottiyur SRO, with the 2024 guideline values ranging from Rs 220 to Rs 462 per sq.ft. The median guideline value for these streets is Rs 330 per sq.ft, which is equal to the current value for Jothi Nagar. Below are other streets in Athipattu with their respective 2024 guideline values:

• Jublee Model Township: Rs 330 per sq.ft (2024)
• Jaya Nagar: Rs 330 per sq.ft (2024)
• Kali Varadhan Nagar: Rs 330 per sq.ft (2024)
• Janaki Nagar: Rs 330 per sq.ft (2024)
• Janakiammal Nagar: Rs 330 per sq.ft (2024)
• Jai Nagar: Rs 330 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty, charged at 7%, would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total to Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jothi Nagar?

The Sub Registrar Office that covers Jothi Nagar 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 Athipattu

The guideline value plays a crucial role during property registration in Athipattu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When buying or selling property, the guideline value is considered along with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring compliance with legal requirements in property transactions.

Frequently asked questions

What is the current guideline value of Jothi Nagar?

The current guideline value of Jothi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Jothi Nagar?

Jothi Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

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 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 1,000 sq.ft plot at the guideline value of Rs 330 per sq.ft, the total guideline value is Rs 3,30,000, leading to a stamp duty of Rs 23,100.