Guideline Value for Jothi Ramalingam 1st Street

Jothi Ramalingam 1st Street guideline value

The current guideline value of Jothi Ramalingam 1st Street is Rs 4,100 per sq.ft. This street is located in Kodambakkam village, under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Jothi Ramalingam 1st Street has changed

The guideline value for Jothi Ramalingam 1st Street has undergone several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a 369% rise. However, from 2012 to 2017, the value decreased to Rs 2,512 per sq.ft, a drop of 33%. The value then rose to Rs 3,750 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the value at Rs 4,100 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, positioning Jothi Ramalingam 1st Street's 2024 figure below that median.

• Jothi Ramalingam 2nd Street: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam Lane Block 83: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam Street: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam Street Block 83: Rs 4,100 per sq.ft (2024)
• Jones Road (West): Rs 7,000 per sq.ft (2024)
• Jones Road (Lane): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Ramalingam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, while the registration fee at 2% would be Rs 82,000, bringing the total fees to Rs 3,69,000. It is important to note that 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 Ramalingam 1st Street?

The Sub Registrar Office that covers Jothi Ramalingam 1st Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

When a property is bought or sold, the guideline value is used to calculate the applicable taxes. This ensures that both parties are aware of the financial obligations involved in the transaction, making it essential to refer to the latest guideline values before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Jothi Ramalingam 1st Street?

The current guideline value of Jothi Ramalingam 1st Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting at Rs 800 per sq.ft in 2007, rising to Rs 4,100 per sq.ft in 2024, marking an overall increase of 413% from 2007 to 2024.

What is the land classification for Jothi Ramalingam 1st Street?

The land classification for Jothi Ramalingam 1st Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Ashok Nagar Sub Registrar Office covers Jothi Ramalingam 1st Street and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 at a rate of 7%.