Guideline Value for Jothi Nagar

Jothi Nagar guideline value

The current guideline value of Jothi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This locality is situated in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Jothi Nagar has changed

The guideline value for Jothi Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 226 per sq.ft. This increased to Rs 279 per sq.ft in 2003, marking a change of +23%. The value then rose significantly to Rs 400 per sq.ft in 2007, reflecting a substantial increase of +43%. Following this, the 2012 revision set the value at Rs 3,000 per sq.ft, which was a remarkable increase of +650% from the previous figure.

In the subsequent revisions, the guideline value for Jothi Nagar was Rs 2,010 per sq.ft in 2017, indicating a decrease of -33% from the previous revision. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 has set it at Rs 3,300 per sq.ft, marking a +10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by +1360%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Jothi Nagar.

• Johnson Street: Rs 4,400 per sq.ft (2024)
• Jeeva Street: Rs 4,400 per sq.ft (2024)
• Kailasapuram 1st Street: Rs 2,200 per sq.ft (2024)
• Kailasapuram 2nd St: Rs 2,200 per sq.ft (2024)
• Kailasapuram 3rd St: Rs 2,200 per sq.ft (2024)
• Kailasapuram 4th st: Rs 2,200 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jothi Nagar?

The Sub Registrar Office covering Jothi Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is used as a reference point for property transactions in Tambaram. When a property is registered, the guideline value helps determine the stamp duty and registration fees payable, ensuring that the transaction is documented accurately according to government regulations.

It is essential for buyers and sellers to be aware of the guideline value as it can influence the overall cost of the property transaction. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Jothi Nagar?

The current guideline value of Jothi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 226 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +1360% over the years.

What is the stamp duty rate in Jothi Nagar?

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

What are the registration fees for property in Jothi Nagar?

The registration fee for property in Jothi Nagar is 2% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Jothi Nagar is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.