Guideline Value for Jothi Nagar 9th Street

Jothi Nagar 9th Street guideline value

The current guideline value of Jothi Nagar 9th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Jothi Nagar 9th Street has changed

The guideline value for Jothi Nagar 9th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, from 2017 to 2023, there was a significant increase of 49%. However, the value dropped by 33% from 2012 to 2017. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that 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, 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 the value for Jothi Nagar 9th Street is below this median.

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

Stamp duty and registration fee for property in Jothi Nagar 9th 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, bringing the total cost for these fees to Rs 1,98,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

For a detailed calculation, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jothi Nagar 9th Street?

The Sub Registrar Office that covers Jothi Nagar 9th 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, Chengalpattu registration zone. You can find your SRO online.

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

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. It serves as a basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should ensure that the sale price is aligned with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Jothi Nagar 9th 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 increased 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 for Jothi Nagar 9th Street?

Jothi Nagar 9th Street is classified as Residential Special Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Jothi Nagar 9th Street?

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.

Which office handles registrations for Jothi Nagar 9th Street?

The Selaiyur Sub Registrar Office handles registrations for Jothi Nagar 9th Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.