Guideline Value for Jothi Ramalingam Nagar

Jothi Ramalingam Nagar guideline value

The current guideline value of Jothi Ramalingam Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Perampakkam village and falls under the Perambakkam SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Jothi Ramalingam Nagar has changed

Over the years, the guideline value of Jothi Ramalingam Nagar has seen several revisions. The most recent revisions indicate that the 2024 guideline value is Rs 350 per sq.ft, which is the same as the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 234 per sq.ft, marking a 50% increase from the previous 2012 revision, which was Rs 350 per sq.ft. The 2007 revision had a significantly higher figure of Rs 3,00,000 per sq.ft, but this was followed by a 100% decrease in the 2012 revision.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has decreased by 100%, reflecting significant changes in property valuation over the years.

Guideline values in Perampakkam

In Perampakkam village, there are 20 streets under the Perambakkam SRO with a 2024 guideline value ranging from Rs 200 to Rs 500 per sq.ft. Jothi Ramalingam Nagar's 2024 figure of Rs 350 per sq.ft is equal to the median value of this range.

• Kammar St (Naidu St): Rs 400 per sq.ft (2024)
• Hospital Road: Rs 400 per sq.ft (2024)
• Kavarai St (Chetti St): Rs 350 per sq.ft (2024)
• KK Nagar: Rs 350 per sq.ft (2024)
• Gandhi Nagar: Rs 350 per sq.ft (2024)
• Eswaran Koil St: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Ramalingam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. It is important to note that 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 Ramalingam Nagar?

The Sub Registrar Office that covers Jothi Ramalingam Nagar is the Perambakkam Sub Registrar Office, located near the Post Office in Perambakkam, 631402, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Perampakkam. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is a key factor in the overall cost of property transactions.

When registering a property, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Jothi Ramalingam Nagar?

The current guideline value of Jothi Ramalingam Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,00,000 per sq.ft in 2007 to Rs 350 per sq.ft in 2024, reflecting a 100% decrease overall. The value was Rs 234 per sq.ft in 2017 and Rs 350 per sq.ft in 2012.

What is the land classification for Jothi Ramalingam Nagar?

The land classification for Jothi Ramalingam Nagar is Residential Class II Type - I.

What are the stamp duty and registration fees for a property in Jothi Ramalingam Nagar?

For a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500 and the registration fee would be Rs 7,000, totaling Rs 31,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Jothi Ramalingam Nagar?

The Perambakkam Sub Registrar Office handles registrations for Jothi Ramalingam Nagar, located near the Post Office in Perambakkam, 631402, Chennai registration zone.