Guideline Value for Jothi Nagar Narmatha 2nd cross Street

Jothi Nagar Narmatha 2nd cross Street guideline value

The current guideline value of Jothi Nagar Narmatha 2nd cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Jothi Nagar Narmatha 2nd cross Street has changed

The guideline value for Jothi Nagar Narmatha 2nd cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value increased by 8%. The revisions for the years 2002, 2003, and 2007 do not have any figures listed for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. Jothi Nagar Narmatha 2nd cross Street's guideline value is above this median.

• Jothi Nagar Narmatha1st cross Street: Rs 2,700 per sq.ft (2024)
• Jothi Nagar Parijatham Street: Rs 2,700 per sq.ft (2024)
• Jothi Nagar Mullai Street: Rs 2,700 per sq.ft (2024)
• Jothi Nagar Roja Street: Rs 2,700 per sq.ft (2024)
• Jothi Nagar Samanthi Street: Rs 2,700 per sq.ft (2024)
• Jothi Nagar Magizham Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar Narmatha 2nd cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. Please 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 calculations.

Which Sub Registrar Office covers Jothi Nagar Narmatha 2nd cross Street?

The Sub Registrar Office covering Jothi Nagar Narmatha 2nd cross Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. It is crucial to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jothi Nagar Narmatha 2nd cross Street?

The current guideline value of Jothi Nagar Narmatha 2nd cross Street is Rs 2,700 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 2,700 per sq.ft in 2024.

What is the land classification for Jothi Nagar Narmatha 2nd cross Street?

Jothi Nagar Narmatha 2nd cross Street is classified as Residential Special Type - II.

What is the registration office for this street?

The registration office for Jothi Nagar Narmatha 2nd cross Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.