Guideline Value for JOTHI RAMALINGAM 1 STREET

Jothi Ramalingam 1 Street guideline value

The current guideline value of Jothi Ramalingam 1 Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, and it falls under the Residential Class III Type - III land classification.

How the guideline value of Jothi Ramalingam 1 Street has changed

The guideline value for Jothi Ramalingam 1 Street has seen several revisions over the years. In 2002, the value was Rs 557 per sq.ft, which increased to Rs 618 per sq.ft in 2003. The value then rose significantly to Rs 1,100 per sq.ft in 2007, followed by a substantial increase to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017 before reaching Rs 4,000 per sq.ft again in 2023. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft.

Looking at the changes between these revisions, from 2002 to 2024, there has been an overall increase of 690%. The jump from 2017 to 2023 was 49%, while the change from 2023 to 2024 was 10%. The value saw a decrease of 33% from 2012 to 2017, and a remarkable increase of 264% from 2007 to 2012. Additionally, the value rose by 78% from 2003 to 2007, and by 11% from 2002 to 2003.

Guideline values in Mambalam

Mambalam village has a total of 163 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Jothi Ramalingam 1 Street's 2024 figure below that median.

• Jothi Ramalingam 2 Street: Rs 4,400 per sq.ft (2024)
• Jothi Ramalingam Street: Rs 6,600 per sq.ft (2024)
• Jones Road East To West: Rs 9,900 per sq.ft (2024)
• Jones Road (East) Northern Side of Anna Salai Northern Side D.No 8 to Southern side D.No 1: Rs 9,900 per sq.ft (2024)
• Jubilee Road: Rs 9,900 per sq.ft (2024)
• Jeer Naidu Lane: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Ramalingam 1 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jothi Ramalingam 1 Street?

The Sub Registrar Office that covers Jothi Ramalingam 1 Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the fees are reflective of the property's value as recognized by the registration authorities.

Frequently asked questions

What is the current guideline value of Jothi Ramalingam 1 Street?

The current guideline value of Jothi Ramalingam 1 Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 557 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 690% over the years.

What is the stamp duty rate for properties in Jothi Ramalingam 1 Street?

The stamp duty rate for properties in Jothi Ramalingam 1 Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Jothi Ramalingam 1 Street located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the median guideline value for streets in Mambalam?

The median guideline value for streets in Mambalam under the Thiyagaraya nagar SRO is Rs 6,600 per sq.ft, which is higher than the 2024 figure for Jothi Ramalingam 1 Street.