Guideline Value for Jothi Nagar 10th Street

Jothi Nagar 10th Street guideline value

The current guideline value of Jothi Nagar 10th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Jothi Nagar 10th Street has changed

The guideline value for Jothi Nagar 10th Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. In 2017, this value decreased to Rs 1,340 per sq.ft, marking a decline of 33%. The 2023 revision saw a significant increase to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, moving from Rs 1,340 per sq.ft to Rs 2,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%, despite the fluctuations observed in earlier revisions. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Jothi Nagar 10th Street is below this median.

• Jothi Nagar 10th Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jothi Nagar 10th Street?

The Jothi Nagar 10th Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value can influence the overall costs involved in the transaction, including stamp duty and registration fees.

When purchasing property, it is essential to consider the guideline value as it ensures compliance with legal requirements during registration. This value helps in establishing a transparent transaction process, safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Jothi Nagar 10th Street?

The current guideline value of Jothi Nagar 10th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Jothi Nagar 10th Street?

Jothi Nagar 10th Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for properties in Jothi Nagar 10th Street?

The stamp duty for a property valued at Rs 22,00,000 would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Jothi Nagar 10th Street?

The Selaiyur Sub Registrar Office handles registrations for Jothi Nagar 10th Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.