Guideline Value for Jothi Nagar 9th Main Road

Jothi Nagar 9th Main Road guideline value

The current guideline value of Jothi Nagar 9th Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Jothi Nagar 9th Main Road has changed

The guideline value for Jothi Nagar 9th Main Road has undergone several revisions over the years. The earliest available figure is from the 2012 revision, where the value was set at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. In the 2023 revision, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33% in the guideline value. However, from 2017 to 2023, the value saw a significant increase of 49%. Overall, comparing the 2012 figure to the current 2024 figure, there has been an increase of 10% in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, indicating that Jothi Nagar 9th Main Road's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Jothi Nagar 9th Main Road

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, bringing the total charges to 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 on calculating your costs, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jothi Nagar 9th Main Road?

The Jothi Nagar 9th Main Road is covered by 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 property in Madambakkam. It serves as the baseline for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware that the guideline value is used to ensure that the property is registered at a value that reflects its worth in the eyes of the government.

When you buy or sell property, the guideline value helps in establishing a fair price for the transaction. It ensures that both parties are aware of the minimum value set by the authorities, which is essential for a transparent and legally compliant property transaction.

Frequently asked questions

What is the current guideline value of Jothi Nagar 9th Main Road?

The current guideline value of Jothi Nagar 9th Main Road 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 several times, starting from Rs 2,000 per sq.ft in 2012, decreasing to Rs 1,340 per sq.ft in 2017, and then increasing to Rs 2,000 per sq.ft in 2023, before reaching Rs 2,200 per sq.ft in 2024.

What is the land classification for Jothi Nagar 9th Main Road?

The land classification for Jothi Nagar 9th Main Road is Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles the registration of properties in the area.