Guideline Value for Jothi Nagar Ist Street

Jothi Nagar Ist Street guideline value

The current guideline value of Jothi Nagar Ist Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Jothi Nagar Ist Street has changed

The guideline value for Jothi Nagar Ist Street has undergone several revisions over the years. The earliest recorded value was in 2012 at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to the current rate of Rs 2,750 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 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, with guideline values 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 Ist Street's 2024 figure above this median.

• Jothi Nagar Ist Cross Street: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 9th 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 Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty is charged at 7%, resulting in Rs 1,92,500, while the registration fee at 2% totals Rs 55,000. Together, the total cost for stamp duty and registration fee is Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Jothi Nagar Ist Street?

The Sub Registrar Office that covers Jothi Nagar Ist 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 information.

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 to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Jothi Nagar Ist Street?

The current guideline value of Jothi Nagar Ist 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

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

For a property valued at Rs 27,50,000, the stamp duty is Rs 1,92,500 and the registration fee is Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office is responsible for Jothi Nagar Ist Street?

The Tambaram Joint 1 Sub Registrar Office is responsible for Jothi Nagar Ist Street, located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the land classification of Jothi Nagar Ist Street?

Jothi Nagar Ist Street is classified as Residential Class I Type - II, indicating its designation for residential purposes.