Guideline Value for Jothi Nagar 6th Street

Jothi Nagar 6th Street guideline value

The current guideline value of Jothi Nagar 6th 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 6th Street has changed

The guideline value for Jothi Nagar 6th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft. However, in the 2023 revision, the value increased to Rs 2,000 per sq.ft, and now it stands at Rs 2,200 per sq.ft as of the 2024 revision.

From 2017 to 2023, there was a significant increase of 49%, followed by a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 10% from the 2012 revision to the current 2024 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 2,400 per sq.ft. The guideline value for Jothi Nagar 6th Street is below this median.

• Jothi Nagar 6th Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 7th Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 5th Main Road: 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 6th Street

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

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

Which Sub Registrar Office covers Jothi Nagar 6th Street?

The Sub Registrar Office that covers Jothi Nagar 6th 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 details.

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

The guideline value is a crucial factor when registering a property in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring transparency in property transactions.

When a buyer or seller approaches the Sub Registrar Office for registration, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jothi Nagar 6th Street?

The current guideline value of Jothi Nagar 6th 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 has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 in 2023, and currently stands at Rs 2,200 per sq.ft as of 2024.

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

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Jothi Nagar 6th Street?

The Selaiyur Sub Registrar Office handles property registrations for Jothi Nagar 6th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the land classification of Jothi Nagar 6th Street?

Jothi Nagar 6th Street is classified as Residential Special Type - I, which indicates its designation for residential purposes.