Guideline Value for Jothi Nagar 3rd Main Road

Jothi Nagar 3rd Main Road guideline value

The current guideline value of Jothi Nagar 3rd Main Road 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 3rd Main Road has changed

The guideline value for Jothi Nagar 3rd Main Road has seen changes over the years. The register has no figure for the years 2002, 2003, 2007, 2017, and 2023. In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. The most recent revision in 2024 shows an increase to Rs 2,200 per sq.ft, marking a 10% rise from the previous figure.

Comparing the revisions, the guideline value increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024. This change reflects the adjustments made in the guideline value register, which is updated periodically to reflect the current market conditions.

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. The median value for these streets is Rs 2,400 per sq.ft, placing the guideline value of Jothi Nagar 3rd Main Road below this median.

• Jothi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 4th Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar 3rd Main Road

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 to Rs 1,98,000. 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Jothi Nagar 3rd Main Road?

The Sub Registrar Office that covers Jothi Nagar 3rd Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp 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, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses in the property transaction process. Buyers should be aware of the guideline value to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Jothi Nagar 3rd Main Road?

The current guideline value of Jothi Nagar 3rd Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise. The register has no figure for the years 2003, 2007, 2017, and 2023.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft. The guideline value of Jothi Nagar 3rd Main Road is below this median.

What are the stamp duty and registration fees for properties in Jothi Nagar 3rd Main Road?

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. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Jothi Nagar 3rd Main Road located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in this area.