Guideline Value for Jothi Nagar 1st Cross St

Jothi Nagar 1st Cross St guideline value

The current guideline value of Jothi Nagar 1st Cross St is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Jothi Nagar 1st Cross St has changed

The guideline value for Jothi Nagar 1st Cross St has undergone several revisions over the years. In 2012, the value was Rs 3,200 per sq.ft, which then decreased to Rs 2,144 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 3,200 per sq.ft in 2023, and then rose again to Rs 3,520 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

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

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. The guideline value of Jothi Nagar 1st Cross St is below this median.

• Jothi Nagar 2nd Cross St: Rs 3,520 per sq.ft (2024)
• Jothi Nagar: Rs 4,620 per sq.ft (2024)
• Jothi Nagar Main Rd: Rs 4,620 per sq.ft (2024)
• Kabilar Street: Rs 3,520 per sq.ft (2024)
• Kalaimagal Nagar 1st Cross Street: Rs 6,610 per sq.ft (2024)
• Kalaimagal Nagar 1st Main Road: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar 1st Cross St

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, leading to a total cost of Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your stamp duty and registration fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jothi Nagar 1st Cross St?

The Jothi Nagar 1st Cross St falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jothi Nagar 1st Cross St?

The current guideline value of Jothi Nagar 1st Cross St 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 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification of Jothi Nagar 1st Cross St?

Jothi Nagar 1st Cross St is classified as Residential Class III Type - I.

Where can I find the registration office for Jothi Nagar 1st Cross St?

The registration office for Jothi Nagar 1st Cross St is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Jothi Nagar 1st Cross St?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 35,20,000 would incur a stamp duty of Rs 2,46,400 at 7%.