Guideline Value for Jothi Nagar

Jothi Nagar guideline value

The current guideline value of Jothi Nagar, located in Attanthangal village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I 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 2003, the guideline value was Rs 12 per sq.ft, which increased to Rs 200 per sq.ft in 2007. Following this, the value surged to Rs 500 per sq.ft in 2012, before dropping to Rs 335 per sq.ft in 2017. The value then rose to Rs 500 per sq.ft in 2023 and finally reached Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 4483%. The register has no figure for the year 2002 for this street.

Guideline values in Attanthangal

In Attanthangal, there are 80 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 880 per sq.ft, with a median value of Rs 880 per sq.ft. Jothi Nagar's current guideline value is below this median.

• Jothipasu Nagar (Maruthupandi Nagar): Rs 550 per sq.ft (2024)
• Kalingarayar Avenue: Rs 440 per sq.ft (2024)
• Jai Nagar: Rs 550 per sq.ft (2024)
• Karumariamman Koil Cross Street: Rs 880 per sq.ft (2024)
• Gopalapuram Nagar: Rs 550 per sq.ft (2024)
• Gandhi Nagar: Rs 880 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jothi Nagar?

The Sub Registrar Office that covers Jothi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Attanthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Jothi Nagar?

The current guideline value of Jothi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 4483% over this period.

What are the other streets in Attanthangal with their guideline values?

Other streets in Attanthangal include Jothipasu Nagar at Rs 550 per sq.ft, Kalingarayar Avenue at Rs 440 per sq.ft, Jai Nagar at Rs 550 per sq.ft, Karumariamman Koil Cross Street at Rs 880 per sq.ft, Gopalapuram Nagar at Rs 550 per sq.ft, and Gandhi Nagar at Rs 880 per sq.ft.

What is the stamp duty rate for property in Jothi Nagar?

The stamp duty rate for property in Jothi Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.