Guideline Value for Jothi Nagar 5th Cross Street

Jothi Nagar 5th Cross Street guideline value

The current guideline value of Jothi Nagar 5th 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 it falls under the Residential Special Type - I land classification.

How the guideline value of Jothi Nagar 5th Cross Street has changed

The guideline value for Jothi Nagar 5th Cross Street has seen revisions over the years. The earliest revision available is from 2012, where the guideline value was Rs 2,000 per sq.ft. The most recent revision in 2024 has increased this value to Rs 2,200 per sq.ft, marking a change of +10% from the 2012 figure. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

As a result, the 2024 revision is the first significant update since 2012. This change indicates a new benchmark for property transactions in the area, reflecting the current valuation standards set by the Registration Department.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Jothi Nagar 5th Cross Street is below this median.

• Jothi Nagar 5th Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 4th Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 6th Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar 5th 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 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, making the total cost for these fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jothi Nagar 5th Cross Street?

The Jothi Nagar 5th Cross Street falls under 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 details.

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 benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Jothi Nagar 5th Cross Street?

The current guideline value of Jothi Nagar 5th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2012?

The guideline value has increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking a change of +10%.

Are there any years without a guideline value for this street?

Yes, the register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for Jothi Nagar 5th Cross Street.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, while Jothi Nagar 5th Cross Street's value is below this median.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.