Guideline Value for JOTHIMADHA ALAIYAM STREET

Jothimadha Alaiyam Street guideline value

The current guideline value of Jothimadha Alaiyam Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class I Type - I.

How the guideline value of Jothimadha Alaiyam Street has changed

The guideline value for Jothimadha Alaiyam Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, and further rose to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, the guideline value has increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Jothimadha Alaiyam Street's 2024 figure above this median.

• J.K.Avenue: Rs 3,300 per sq.ft (2024)
• JAYADEVI 1st STREET: Rs 2,800 per sq.ft (2024)
• Jawaharlal Nehru Nagar: Rs 1,700 per sq.ft (2024)
• Jains Peeble Brook: Rs 2,800 per sq.ft (2024)
• KAMARAJAR STREET (10ft ROAD): Rs 2,200 per sq.ft (2024)
• Kamarajar Street (Near Industrial Estate Road/Egret): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jothimadha Alaiyam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total 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, bringing the total fees to Rs 3,96,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jothimadha Alaiyam Street?

The Sub Registrar Office that covers Jothimadha Alaiyam Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees, which are mandatory for legal property transfers.

When a buyer or seller registers a property, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Jothimadha Alaiyam Street?

The current guideline value of Jothimadha Alaiyam 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 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Jothimadha Alaiyam Street?

Jothimadha Alaiyam Street is classified as Residential Class I Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Jothimadha Alaiyam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 4,400 per sq.ft incurs a total guideline value of Rs 44,00,000, leading to a stamp duty of Rs 3,08,000.