Guideline Value for Jothi Nagar 11th Street

Jothi Nagar 11th Street guideline value

The current guideline value of Jothi Nagar 11th 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 11th Street has changed

The guideline value for Jothi Nagar 11th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, the value saw a significant increase to Rs 2,000 per sq.ft in the 2023 revision, followed by another increase to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. 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 with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, which means that Jothi Nagar 11th Street's 2024 value is below this median.

• Jothi Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 10th Main Road: 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 11th 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, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Jothi Nagar 11th Street?

The Sub Registrar Office that covers Jothi Nagar 11th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property in Madambakkam. It serves as a reference point for determining the stamp duty and registration fees applicable at the time of the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as set by the Registration Department. This helps in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Jothi Nagar 11th Street?

The current guideline value of Jothi Nagar 11th 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 median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, making the Jothi Nagar 11th Street's value below this median.

What are the stamp duty and registration fees for property in Jothi Nagar 11th Street?

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

Which office handles the registration for Jothi Nagar 11th Street?

The Selaiyur Sub Registrar Office handles the registration for Jothi Nagar 11th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.