Guideline Value for Jothi Nagar 8th Street

Jothi Nagar 8th Street guideline value

The current guideline value of Jothi Nagar 8th 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 8th Street has changed

The guideline value for Jothi Nagar 8th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. The value then increased to Rs 2,000 per sq.ft in 2023 and further rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are a total of 1151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft as of 2024. The median value for these streets is Rs 2,400 per sq.ft, making the guideline value for Jothi Nagar 8th Street below this median.

• Jothi Nagar 8th Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 9th Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 7th Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Jothi Nagar 8th Street?

The Sub Registrar Office that covers Jothi Nagar 8th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value plays a crucial role in the registration of properties in Madambakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This value is essential for ensuring that the transaction is recorded accurately in the official records.

It is important for buyers and sellers to be aware of the current guideline value as it directly affects the financial aspects of property transactions. The guideline value serves as a benchmark for property pricing and is regularly updated to reflect changes in the market.

Frequently asked questions

What is the current guideline value of Jothi Nagar 8th Street?

The current guideline value of Jothi Nagar 8th 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 to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Jothi Nagar 8th Street?

Jothi Nagar 8th Street is classified as Residential Special Type - I.

Where can I find information about stamp duty and registration fees?

Information about stamp duty and registration fees can be found using the stamp duty and registration fee calculator.

Which office handles registrations for Jothi Nagar 8th Street?

The Selaiyur Sub Registrar Office handles registrations for Jothi Nagar 8th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.