Guideline Value for Jaganatha Thottam

Jaganatha Thottam guideline value

The current guideline value of Jaganatha Thottam is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Jaganatha Thottam has changed

In the 2023 revision, the guideline value for Jaganatha Thottam was Rs 7,000 per sq.ft. This reflects an increase of 10% to the current value of Rs 7,700 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

The changes from the previous revisions show a clear upward trend from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. As noted, there are no figures available for the earlier years, indicating that the guideline value for Jaganatha Thottam has been established more recently.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Jaganatha Thottam's guideline value is below this median.

• Jaipur Colony: Rs 15,400 per sq.ft (2024)
• Jayammal Street: Rs 11,000 per sq.ft (2024)
• H.D.Raja Street: Rs 8,700 per sq.ft (2024)
• J.J.Road: Rs 14,300 per sq.ft (2024)
• Gowdia Mutt Road: Rs 13,200 per sq.ft (2024)
• Gowdia Mutt Lane: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jaganatha Thottam

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that 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 Jaganatha Thottam?

The Sub Registrar Office that covers Jaganatha Thottam is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 2. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value serves as a reference point for the authorities to assess the transaction's legitimacy. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jaganatha Thottam?

The current guideline value of Jaganatha Thottam is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the registration office for Jaganatha Thottam?

The registration office for Jaganatha Thottam is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Jaganatha Thottam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 77,00,000, the stamp duty at 7% would be Rs 5,39,000.

What is the land classification for Jaganatha Thottam?

Jaganatha Thottam falls under the Residential Class II Type - I land classification, which is important for understanding its usage and potential development.