Guideline Value for Jothi Ramalingam Street Block 83

Jothi Ramalingam Street Block 83 guideline value

The current guideline value of Jothi Ramalingam Street 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, classified as Residential Class IV Type - I.

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

In the 2007 revision, the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 369%. However, in the 2017 revision, the value decreased to Rs 2,512 per sq.ft, reflecting a decline of 33%. The value then saw a substantial increase to Rs 3,750 per sq.ft in 2023, followed by another rise to Rs 4,100 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 413%. The revisions for the years 2002 and 2003 do not have any figures listed for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with a 2024 guideline value range from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Jothi Ramalingam Street Block 83's value below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 4,100 per sq.ft, the guideline value totals Rs 41,00,000. The stamp duty at 7% amounts to Rs 2,87,000, and the registration fee at 2% is Rs 82,000, bringing the total fees to Rs 3,69,000. 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 Street Block 83?

The Jothi Ramalingam Street Block 83 falls under 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 a critical factor during property registration in Kodambakkam. It serves as the base for calculating stamp duty and registration fees, which are essential costs in any property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, as it is set by the government to reflect the market conditions. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

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

The current guideline value of Jothi Ramalingam Street Block 83 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 from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, showing an overall increase of 413% over the years.

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

For a property valued at Rs 41,00,000, the stamp duty is Rs 2,87,000 and the registration fee is Rs 82,000, totaling Rs 3,69,000.

Which Sub Registrar Office handles registrations for Jothi Ramalingam Street Block 83?

The Ashok Nagar Sub Registrar Office is responsible for registrations in Jothi Ramalingam Street Block 83, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the transaction is recorded at a price reflective of the market conditions.