Guideline Value for Jothi Ramalingam Lane Block 83

Jothi Ramalingam Lane Block 83 guideline value

The current guideline value of Jothi Ramalingam Lane Block 83 is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Jothi Ramalingam Lane Block 83 has changed

The guideline value for Jothi Ramalingam Lane Block 83 has seen significant changes over the years. In 2007, the guideline value was Rs 800 per sq.ft. This increased to Rs 2,512 per sq.ft in 2017, marking a 214% rise. The value then rose to Rs 3,750 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The latest revision in 2024 shows a further increase to Rs 4,100 per sq.ft, which is a 9% rise from 2023.

There are no figures available for the years 2002, 2003, and 2012 in the register for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, 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, placing Jothi Ramalingam Lane Block 83's value below the median.

• Jothi Ramalingam 2nd Street: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam 1st Street: 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 Lane Block 83

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, and 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jothi Ramalingam Lane Block 83?

The Sub Registrar Office that covers Jothi Ramalingam Lane Block 83 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 is an essential factor when buying or selling property in Kodambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for any property transaction.

When a buyer and seller agree on a sale price, the guideline value is compared to ensure that the registration is done at the higher of the two values. This ensures compliance with local regulations and helps in the accurate assessment of taxes due at the time of registration.

Frequently asked questions

What is the current guideline value of Jothi Ramalingam Lane Block 83?

The current guideline value of Jothi Ramalingam Lane Block 83 is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 800 per sq.ft to Rs 4,100 per sq.ft in 2024, representing an overall increase of 413%. The most recent changes include a rise from Rs 3,750 per sq.ft in 2023 to Rs 4,100 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur total fees of Rs 3,69,000 based on the current guideline value.

Which office handles the registration for Jothi Ramalingam Lane Block 83?

The Ashok Nagar Sub Registrar Office handles the registration for Jothi Ramalingam Lane Block 83, 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 under the Ashok Nagar SRO is Rs 4,900 per sq.ft. Jothi Ramalingam Lane Block 83's guideline value is below this median.