Guideline Value for Jothi Nagar

Jothi Nagar guideline value

The current guideline value of Jothi Nagar, located in Katrampakkam B village under the Sriperumpudur SRO, is Rs 250 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Jothi Nagar has changed

In the 2017 revision, the guideline value was set at Rs 167 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 250 per sq.ft. The 2024 revision also reflects the same value of Rs 250 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a 50% increase in the guideline value, and overall, from 2017 to 2024, the increase remains at 50%. The consistency in the guideline value from 2023 to 2024 shows stability in the pricing for Jothi Nagar.

Guideline values in Katrampakkam B

Katrampakkam B village has 44 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 275 per sq.ft. Jothi Nagar's 2024 figure of Rs 250 per sq.ft is below this median.

• Kabilmuni Garden: Rs 500 per sq.ft (2024)
• Kanniyamman Koil 1st Street: Rs 250 per sq.ft (2024)
• Kanniyamman Koil 2nd Street: Rs 250 per sq.ft (2024)
• Ganapathy Nagar: Rs 250 per sq.ft (2024)
• Lakshmi Nagar: Rs 300 per sq.ft (2024)
• Lakshmi Nagar Annex: Rs 250 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 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total costs together to Rs 22,500. 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Katrampakkam B. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable stamp duty. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Jothi Nagar?

The current guideline value of Jothi Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Jothi Nagar increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in both 2023 and 2024, showing a 50% increase overall from 2017 to 2024.

What are the guideline values for other streets in Katrampakkam B?

Other streets in Katrampakkam B have varying guideline values, with Kabilmuni Garden at Rs 500 per sq.ft, while several streets, including Kanniyamman Koil 1st Street and Ganapathy Nagar, are at Rs 250 per sq.ft.

How is stamp duty calculated in Jothi Nagar?

Stamp duty in Jothi Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 2,50,000, the stamp duty would be Rs 17,500 at a rate of 7%.

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

The Sub Registrar Office for Jothi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.