Guideline Value for JOTHI RAMALINGAM STREET

Jothi Ramalingam Street guideline value

The current guideline value of Jothi Ramalingam Street is Rs 2,700 per sq.ft. This street is located in Perambur village, under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Jothi Ramalingam Street has changed

The guideline value for Jothi Ramalingam Street has undergone several revisions over the years. In 2002, the guideline value was Rs 4,202 per sq.ft, which decreased to Rs 461 per sq.ft in 2003. The value then increased to Rs 550 per sq.ft in 2007, and further rose to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017, before increasing again to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft.

Between these revisions, there have been notable changes. The change from 2023 to 2024 was an increase of 8%. From 2017 to 2023, there was a significant increase of 49%. The value dropped by 33% from 2012 to 2017, while it saw a remarkable increase of 355% from 2007 to 2012. The value rose by 19% from 2003 to 2007, but decreased drastically by 89% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has decreased by 36%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the 2024 figure for Jothi Ramalingam Street.

• Joseph Technical Institute: Rs 2,200 per sq.ft (2024)
• Joseph Street: Rs 2,200 per sq.ft (2024)
• Justice Paramasivam Street: Rs 2,700 per sq.ft (2024)
• J.J.Road: Rs 3,800 per sq.ft (2024)
• Jegajeevanram Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 8th Street: Rs 1,600 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 guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Jothi Ramalingam Street?

The Sub Registrar Office that covers Jothi Ramalingam Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. 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 authorities.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency in property transactions and helps in maintaining accurate records of property ownership.

Frequently asked questions

What is the current guideline value of Jothi Ramalingam Street?

The current guideline value of Jothi Ramalingam Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 4,202 per sq.ft in 2002 and reaching Rs 2,700 per sq.ft in 2024, with various increases and decreases in between.

What are the other streets in Perambur with their guideline values?

Other streets in Perambur include Joseph Technical Institute and Joseph Street at Rs 2,200 per sq.ft, Justice Paramasivam Street at Rs 2,700 per sq.ft, J.J.Road at Rs 3,800 per sq.ft, and Jegajeevanram Nagar Main Road and 8th Street at Rs 1,600 per sq.ft.

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

The stamp duty rate for properties in Jothi Ramalingam Street is 7%, which is calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Jothi Ramalingam Street?

The Sub Registrar Office for Jothi Ramalingam Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.