Guideline Value for Jothi Nagar 4th Street

Jothi Nagar 4th Street guideline value

The current guideline value of Jothi Nagar 4th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of Jothi Nagar 4th Street has changed

Over the years, the guideline value of Jothi Nagar 4th Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,675 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 2,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose significantly by 49%. Overall, comparing the values from 2012 to 2024, there has been a total increase of 10%. It is worth noting that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this village is Rs 1,650 per sq.ft, placing Jothi Nagar 4th Street's 2024 figure above this median.

• Jothi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 7th Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 8th Street: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Jothi Nagar 4th Street?

The Sub Registrar Office that covers Jothi Nagar 4th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Chitlapakkam, the guideline value is used as a reference point for determining the stamp duty and registration fees. It serves as a benchmark to ensure that the property is registered at a value that reflects the current market conditions.

During the registration process, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

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

The current guideline value of Jothi Nagar 4th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Jothi Nagar 4th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000, with a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Jothi Nagar 4th Street?

The Tambaram Joint 1 Sub Registrar Office covers Jothi Nagar 4th Street, located at No.26, MES Road, East Tambaram, Chennai-600059.

What is the median guideline value in Chitlapakkam?

The median guideline value in Chitlapakkam is Rs 1,650 per sq.ft, with Jothi Nagar 4th Street's 2024 figure being above this median.