Guideline Value for JOTHI RAMALINGAM STREET

Jothi Ramalingam Street guideline value

The current guideline value of Jothi Ramalingam Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Class IV Type - II.

How the guideline value of Jothi Ramalingam Street has changed

In the 2002 revision, the guideline value was Rs 681 per sq.ft. This value increased to Rs 748 per sq.ft in 2003, marking a 10% rise. The following revision in 2007 saw a significant jump to Rs 1,050 per sq.ft, which is a 40% increase from the previous figure. By 2012, the value remained at Rs 4,000 per sq.ft, showing no change from the 2012 revision to the 2023 revision, which also recorded Rs 4,000 per sq.ft. The 2024 revision saw another increase, bringing the value to Rs 4,400 per sq.ft, a 10% rise from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 546%. The register has no figure for this street in the 2017 revision.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft in 2024. The median value for these streets is Rs 5,800 per sq.ft, placing Jothi Ramalingam Street's 2024 figure below that median.

• Jubilee Road: Rs 8,800 per sq.ft (2024)
• Jeeva Street (N.G.O. Colony, 100 Feet Road, Vadapalani): Rs 5,000 per sq.ft (2024)
• J.D. Durairaj Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• J.D. Durairaj Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• J.D. Durairaj Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• J.D. Durairaj Nagar 6th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Ramalingam Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jothi Ramalingam Street?

The Sub Registrar Office that covers Jothi Ramalingam Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

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 applicable duties and fees. This helps maintain transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Jothi Ramalingam Street?

The current guideline value of Jothi Ramalingam 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 seen several revisions, increasing from Rs 681 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 546% over this period.

What is the land classification for Jothi Ramalingam Street?

Jothi Ramalingam Street is classified as Residential Class IV Type - II.

Where can I find the registration office for Jothi Ramalingam Street?

The registration office for Jothi Ramalingam Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Puliyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.