Guideline Value for Jothi Nagar

Jothi Nagar guideline value

The current guideline value of Jothi Nagar, located in Padiyanallur village under the Redhills SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Jothi Nagar has changed

The guideline value for Jothi Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 98 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. The value then rose dramatically by 300% to Rs 1,200 per sq.ft in 2012. However, it saw a decrease of 33% to Rs 804 per sq.ft in 2017. Following this, the value increased by 49% to Rs 1,200 per sq.ft in 2023, and finally, it rose by 10% to the current value of Rs 1,320 per sq.ft in 2024. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 1247%. Each revision reflects changes in the real estate landscape, with the most recent revision indicating a continued upward trend.

Guideline values in Padiyanallur

Padiyanallur village has 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. Jothi Nagar's current guideline value of Rs 1,320 per sq.ft is above this median.

• Kaavya Garden Annex: Rs 660 per sq.ft (2024)
• Jeeva Street: Rs 1,320 per sq.ft (2024)
• Kakkanji Street: Rs 770 per sq.ft (2024)
• Kalaivanar Street: Rs 770 per sq.ft (2024)
• Kalanchinathan Street: Rs 660 per sq.ft (2024)
• Kalpaga Nagar: Rs 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these fees Rs 1,18,800. The duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value is a critical factor when registering property transactions in Padiyanallur. It serves as a benchmark for determining the minimum value at which property can be sold or purchased, ensuring that the transaction is documented accurately.

When buyers or sellers engage in property transactions, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. This ensures that all parties are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Jothi Nagar?

The current guideline value of Jothi Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 98 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1247% over this period.

What is the land classification of Jothi Nagar?

Jothi Nagar is classified as Residential Special Type - I under the guidelines set for the area.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000, leading to a stamp duty of Rs 92,400 and a registration fee of Rs 26,400, totaling Rs 1,18,800.

Where can I find the Sub Registrar Office for Jothi Nagar?

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