Guideline Value for Jothi Nagar, Ponniammanmedu (Ward-24)

Jothi Nagar, Ponniammanmedu (Ward-24) guideline value

The current guideline value of Jothi Nagar, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class III Type - I.

How the guideline value of Jothi Nagar, Ponniammanmedu (Ward-24) has changed

The guideline value for Jothi Nagar, Ponniammanmedu has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 1,200 per sq.ft, and in the 2024 revision, it increased to Rs 1,300 per sq.ft, marking an increase of 8%.

Currently, the 2024 figure of Rs 1,300 per sq.ft is the latest update. This reflects a consistent increase in the guideline value over the recent years, with the previous figure of Rs 1,200 per sq.ft from 2023.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, indicating that Jothi Nagar's 2024 figure is below this median.

• Jothi Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Jothi Nagar Extention (Ward 29): Rs 1,300 per sq.ft (2024)
• Jothiramalingam Nagar (Kuthira Kuthi Thazai): Rs 1,300 per sq.ft (2024)
• Jothi Nagar: Rs 1,300 per sq.ft (2024)
• John Vasu st ( Ward No.4 ): Rs 1,300 per sq.ft (2024)
• John Vasu st extn. ( Ward No.4 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar, Ponniammanmedu (Ward-24)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 detailed calculations.

Which Sub Registrar Office covers Jothi Nagar, Ponniammanmedu (Ward-24)?

The Sub Registrar Office that covers Jothi Nagar, Ponniammanmedu (Ward-24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

Frequently asked questions

What is the current guideline value of Jothi Nagar, Ponniammanmedu (Ward-24)?

The current guideline value of Jothi Nagar, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, reflecting an increase of 8%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Jothi Nagar?

Jothi Nagar is classified as Residential Class III Type - I, which indicates its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Jothi Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value.

Where is the Sub Registrar Office for Jothi Nagar located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it handles registrations for Jothi Nagar, Ponniammanmedu (Ward-24).