Guideline Value for Jothi Nagar

Jothi Nagar guideline value

The current guideline value of Jothi Nagar is Rs 1,200 per sq.ft as per the 2023 revision. This area falls under Mambakkam village and is classified as Commercial Class I Type - II. The relevant Sub Registrar Office for this location is the Gooduvancheri SRO.

How the guideline value of Jothi Nagar has changed

Over the years, the guideline value of Jothi Nagar has seen several revisions. The 2007 revision set the value at Rs 160 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision, marking an increase of 650%. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, a decline of 33%. The latest revision in 2023 brought the guideline value back up to Rs 1,200 per sq.ft, representing a 49% increase from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 650%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 for this street.

Guideline values in Mambakkam

Currently, there are no specific village figures available for Mambakkam. Jothi Nagar is classified under the Gooduvancheri SRO, and there are no other streets in Mambakkam provided in the available data.

Stamp duty and registration fee for property in Jothi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000. Together, the total fee would be Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property transaction occurs, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives 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 1,200 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and returned to Rs 1,200 per sq.ft in 2023.

What is the stamp duty for property in Jothi Nagar?

The stamp duty for property in Jothi Nagar is 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000.

Where is the Gooduvancheri SRO located?

The Gooduvancheri SRO is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Are there other streets in Mambakkam with guideline values?

Currently, there are no other streets in Mambakkam listed with guideline values in the available data.