Guideline Value for Jothi Nagar 5th Street

Jothi Nagar 5th Street guideline value

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

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

The guideline value for Jothi Nagar 5th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and finally, it rose to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a notable increase of 49%. However, there were no figures available for the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 for these streets is Rs 1,650 per sq.ft, making the current value of Jothi Nagar 5th Street above this median.

• Jothi Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 7th Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 8th Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total 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 details.

Which Sub Registrar Office covers Jothi Nagar 5th Street?

The Sub Registrar Office that covers Jothi Nagar 5th 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

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

The current guideline value of Jothi Nagar 5th 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 to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Jothi Nagar 5th Street?

Jothi Nagar 5th Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Jothi Nagar 5th Street?

The Sub Registrar Office for Jothi Nagar 5th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Jothi Nagar 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.