Guideline Value for Jothi Nagar 4th Cross Street

Jothi Nagar 4th Cross Street guideline value

The current guideline value of Jothi Nagar 4th Cross 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 4th Cross Street has changed

The guideline value for Jothi Nagar 4th Cross Street has undergone revisions over the years. The earliest recorded figure is from the 2012 revision, which set the value at Rs 2,000 per sq.ft. The most recent revision in 2024 increased this figure to Rs 2,200 per sq.ft, marking a 10% increase from the 2012 value.

There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. The current value of Rs 2,200 per sq.ft is the result of the 2024 revision, reflecting the latest update in the guideline value register.

Guideline values in Madambakkam

In Madambakkam village, 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 guideline value in this area is Rs 2,400 per sq.ft, which means that Jothi Nagar 4th Cross Street's current value is below the median.

• Jothi Nagar 4th Main Road: Rs 2,200 per sq.ft (2024)
• Jothi nagar 3rd street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 3rd Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar 4th Cross Street

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

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jothi Nagar 4th Cross Street?

The Sub Registrar Office that covers Jothi Nagar 4th Cross 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, 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 plays a crucial role during the registration of property transactions in Madambakkam. It serves as a reference point for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling a property, the guideline value is compared with the actual sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jothi Nagar 4th Cross Street?

The current guideline value of Jothi Nagar 4th Cross 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 for this street was Rs 2,000 per sq.ft in 2012 and increased to Rs 2,200 per sq.ft in 2024, marking a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification for Jothi Nagar 4th Cross Street?

Jothi Nagar 4th Cross Street is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Jothi Nagar 4th Cross Street 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, in the Chengalpattu registration zone.