Guideline Value for Jothi Ramalingam 2nd Street

Jothi Ramalingam 2nd Street guideline value

The current guideline value of Jothi Ramalingam 2nd 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 2nd Street has changed

The guideline value for Jothi Ramalingam 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 800 per sq.ft. This figure increased significantly to Rs 2,512 per sq.ft in 2017, marking a change of +214%. The value then rose to Rs 3,750 per sq.ft in 2023, which was a +49% increase from the previous revision. The latest revision in 2024 set the guideline value at Rs 4,100 per sq.ft, reflecting a +9% change from 2023.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2012 for Jothi Ramalingam 2nd 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 for these streets is Rs 4,900 per sq.ft, indicating that Jothi Ramalingam 2nd Street's 2024 figure is below this median.

• Jothi Ramalingam 1st 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 2nd Street

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

The Sub Registrar Office that covers Jothi Ramalingam 2nd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable charges. Buyers should be aware that the duty is assessed based on the higher amount between the guideline value and the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jothi Ramalingam 2nd Street?

The current guideline value of Jothi Ramalingam 2nd 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 from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of +413% over the years.

What are the stamp duty rates applicable in Jothi Ramalingam 2nd Street?

The stamp duty for property transactions in Jothi Ramalingam 2nd Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this street?

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

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the current guideline value of Jothi Ramalingam 2nd Street.