Guideline Value for Jothi Nagar Main Road

Jothi Nagar Main Road guideline value

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

How the guideline value of Jothi Nagar Main Road has changed

The guideline value for Jothi Nagar Main Road has seen several revisions over the years. The oldest available figure is from the 2012 revision, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 2,200 per sq.ft, representing a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street in the register.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. Jothi Nagar Main Road's 2024 figure of Rs 2,200 per sq.ft is below this median.

• Jothi Nagar-Manickam Nagar Link Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 9th Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Jothi Venkatachalam Nagar: Rs 2,750 per sq.ft (2024)
• Jothi Nagar 8th Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar 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 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 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 more information.

Which Sub Registrar Office covers Jothi Nagar Main Road?

The Sub Registrar Office that covers Jothi Nagar Main Road is 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 in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

When registering a property, the guideline value helps to establish the minimum value for which the property can be registered. This ensures that the transaction reflects a fair value based on the prevailing rates in the area.

Frequently asked questions

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

The current guideline value of Jothi Nagar 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. This reflects a decline from 2012 to 2017, followed by a significant increase from 2017 to 2024.

What is the land classification for Jothi Nagar Main Road?

Jothi Nagar Main Road is classified as Residential Special Type - I, indicating its designation for residential purposes within the locality.

What are the stamp duty and registration fees for properties in Jothi Nagar Main Road?

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.

Which office handles the registration for Jothi Nagar Main Road?

The Selaiyur Sub Registrar Office handles the registration for Jothi Nagar Main Road. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.