Guideline Value for Jothi Nagar 9th Street

Jothi Nagar 9th Street guideline value

The current guideline value of Jothi Nagar 9th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

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 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Jothi Nagar 9th Street's 2024 figure above this median.

• Jothi Nagar Ist Cross Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar Ist Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 8th Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 7th Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 5th Street: Rs 2,750 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that 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 9th Street?

The Sub Registrar Office that covers Jothi Nagar 9th 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 critical factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property transfer.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the government’s assessment of property worth in the area. This helps maintain transparency and fairness in property dealings.

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 2,750 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 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Jothi Nagar 9th Street?

The land classification for Jothi Nagar 9th Street is Residential Class I Type - II.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,47,500.

Which office handles registrations for Jothi Nagar 9th Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Jothi Nagar 9th Street, located at No.26, MES Road, East Tambaram, Chennai-600059.