Guideline Value for JOTHI NAGAR

Jothi Nagar guideline value

The current guideline value of Jothi Nagar, located in Thiruvancheri village under the Pallavaram SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Jothi Nagar has changed

The guideline value for Jothi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023, and further rose to Rs 2,530 per sq.ft in the 2024 revision, marking a change of +10% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 41%. The changes between revisions indicate a remarkable increase of 91% from 2017 to 2023, while the value dropped by 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft, with a median value of Rs 1,980 per sq.ft. Jothi Nagar's 2024 guideline value is above this median.

• J P Green Garden: Rs 2,530 per sq.ft (2024)
• Kakkanji Street: Rs 1,100 per sq.ft (2024)
• Jayalalitha Street: Rs 1,100 per sq.ft (2024)
• Kalainger Street: Rs 2,530 per sq.ft (2024)
• Jalan Kennady Street: Rs 1,980 per sq.ft (2024)
• Jai Nagar: Rs 3,850 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 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that 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 more information.

Which Sub Registrar Office covers Jothi Nagar?

The Sub Registrar Office that covers Jothi Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thiruvancheri. It serves as the basis for calculating the stamp duty and registration fees that are required during the transaction.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to determine the applicable duties and fees. This ensures that the registration process is standardized and transparent for all transactions.

Frequently asked questions

What is the current guideline value of Jothi Nagar?

The current guideline value of Jothi Nagar is Rs 2,530 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 2,530 per sq.ft in 2024, showing an overall increase of 41% over this period.

What are the stamp duty rates for property in Jothi Nagar?

The stamp duty rate for property in Jothi Nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Jothi Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the median guideline value of streets in Thiruvancheri?

The median guideline value of streets in Thiruvancheri is Rs 1,980 per sq.ft, with Jothi Nagar's value being above this figure.