Guideline Value for JOTHI RAMALINGAM STREET

Jothi Ramalingam Street guideline value

The current guideline value of Jothi Ramalingam Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, classified as Residential Class II Type - I.

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 value was Rs 557 per sq.ft, which increased to Rs 618 per sq.ft in 2003, marking an 11% rise. The value continued to rise significantly, reaching Rs 1,500 per sq.ft in 2007, which was a 143% increase from the previous revision. By 2012, the value saw a drop to Rs 6,000 per sq.ft, a decrease of 300% from the 2007 figure. This was followed by a rise to Rs 4,020 per sq.ft in 2017, which represented a 49% increase from 2012. The value further increased to Rs 6,000 per sq.ft in 2023, before reaching the current value of Rs 6,600 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1085%. The register does not contain figures for any other years for this street.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Jothi Ramalingam Street.

• Jothi Ramalingam 2 Street: Rs 4,400 per sq.ft (2024)
• Jothi Ramalingam 1 Street: Rs 4,400 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. The 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 Ramalingam Street?

The Sub Registrar Office that covers Jothi Ramalingam Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value is used to determine the applicable charges, ensuring that both the buyer and seller adhere to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Jothi Ramalingam Street?

The current guideline value of Jothi Ramalingam Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 557 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 1085% over the years.

What are the stamp duty and registration fees for properties on Jothi Ramalingam Street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office is responsible for Jothi Ramalingam Street?

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

What is the median guideline value of streets in Mambalam?

The median guideline value of streets in Mambalam is Rs 6,600 per sq.ft, which is the same as the current value for Jothi Ramalingam Street.