Guideline Value for Jothi Nagar

Jothi Nagar guideline value

The current guideline value of Jothi Nagar in Baraniputjur village under the Kunrathur SRO is Rs 1,210 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - II land classification.

How the guideline value of Jothi Nagar has changed

The guideline value for Jothi Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 250 per sq.ft, which increased to Rs 1,100 per sq.ft in 2012. However, there was a drop to Rs 737 per sq.ft in the 2017 revision. The value then rose to Rs 1,100 per sq.ft in 2023 and finally reached Rs 1,210 per sq.ft in the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The most notable change was from 2007 to 2012, where the value surged by 340%. Overall, from 2007 to 2024, the guideline value has increased by 384%.

Guideline values in Baraniputjur

In Baraniputjur, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 2,500 per sq.ft. The median value is Rs 1,210 per sq.ft, which is equal to the guideline value of Jothi Nagar.

• Janaki Raman Nagar: Rs 1,210 per sq.ft (2024)
• Iyyappanthangal Main Road: Rs 1,450 per sq.ft (2024)
• Ilayaraja Nagar: Rs 1,210 per sq.ft (2024)
• Karthik Avenue: Rs 1,450 per sq.ft (2024)
• Karuna Nidhi Street: Rs 1,210 per sq.ft (2024)
• Ellaiyamman koil Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, totaling Rs 1,08,900. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jothi Nagar?

The Sub Registrar Office covering Jothi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial figure used in property transactions in Baraniputjur. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during registration.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jothi Nagar?

The current guideline value of Jothi Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, rising from Rs 250 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, with various fluctuations in between.

What is the land classification of Jothi Nagar?

Jothi Nagar falls under the Residential Special Type - II land classification.

What is the registration office for Jothi Nagar?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, covers Jothi Nagar.

How is stamp duty calculated in Jothi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 at a rate of 7%.