Guideline Value for Jothi Nagar 6th Street

Jothi Nagar 6th Street guideline value

The current guideline value of Jothi Nagar 6th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO with a land classification of Residential Class I Type - II.

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 2024 revision sets the value at Rs 2,750 per sq.ft, an increase from the 2023 figure of Rs 2,500 per sq.ft, marking a change of +10%. Prior to that, the 2017 revision recorded a guideline value of Rs 1,675 per sq.ft, which reflects a significant increase of +49% from 2017 to 2023. The 2012 revision had set the value at Rs 2,500 per sq.ft, which was a decrease of -33% compared to the 2017 value. Overall, from 2012 to 2024, the guideline value has increased by +10%.

The register does not provide figures for the revisions in 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 value across these streets is Rs 1,650 per sq.ft, placing Jothi Nagar 6th Street's 2024 figure above this median.

• Jothi Nagar 5th 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)
• Jothi Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 9th Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar Ist Cross Street: Rs 2,750 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 2,750 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 fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, 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 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

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are recorded at a fair value.

When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers should be aware of these costs to ensure they are adequately prepared for the financial aspects of the transaction.

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 2,750 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 2023 to Rs 2,750 per sq.ft in 2024. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the median guideline value in Chitlapakkam?

The median guideline value in Chitlapakkam is Rs 1,650 per sq.ft. Jothi Nagar 6th Street's current value is above this median.

What fees apply when registering property in Jothi Nagar 6th Street?

When registering property, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Jothi Nagar 6th Street located?

The Sub Registrar Office for Jothi Nagar 6th Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.