Guideline Value for Jothi Colony

Jothi Colony guideline value

The current guideline value of Jothi Colony is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Jothi Colony has changed

The guideline value for Jothi Colony has seen significant changes over the years. Starting from Rs 227 per sq.ft in 2003, it increased to Rs 600 per sq.ft in 2007, marking a rise of 164%. The value remained unchanged at Rs 3,200 per sq.ft from 2012 until the 2023 revision. In 2023, it was revised to Rs 3,200 per sq.ft, and then increased by 10% to Rs 3,520 per sq.ft in 2024.

Notably, the 2007 to 2012 period experienced a remarkable increase of 433%, while the overall change from 2003 to 2024 reflects an increase of 1451%. The revisions for the years 2017 and 2002 do not have figures listed for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Jothi Colony's 2024 figure above this median.

• Joseph Colony: Rs 3,300 per sq.ft (2024)
• Joy Nagar: Rs 3,520 per sq.ft (2024)
• Jesupatham Street: Rs 3,300 per sq.ft (2024)
• Jesudhasan Street: Rs 3,300 per sq.ft (2024)
• Juleka Street: Rs 2,160 per sq.ft (2024)
• Kabaleswaran Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400. Together, these fees would total Rs 3,16,800. It is important to note that 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 details.

Which Sub Registrar Office covers Jothi Colony?

The Sub Registrar Office covering Jothi Colony is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Jothi Colony?

The current guideline value of Jothi Colony is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 227 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 1451% from 2003 to 2024.

What are the stamp duty and registration fees for properties in Jothi Colony?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400, and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which Sub Registrar Office covers Jothi Colony?

The Pallavaram Sub Registrar Office covers Jothi Colony, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value when buying or selling property?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that these fees are based on the official valuation of the property.