Guideline Value for Jothi Ramalingam Street

Jothi Ramalingam Street guideline value

The current guideline value of Jothi Ramalingam Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Jothi Ramalingam Street has changed

Since the guideline value register began in 2002, the values have seen significant changes. In 2002, the guideline value was Rs 294 per sq.ft, which increased to Rs 329 per sq.ft in 2003, marking a rise of 12%. The value then surged dramatically to Rs 1,200 per sq.ft in 2007, reflecting a substantial increase of 265%. The upward trend continued with a value of Rs 2,500 per sq.ft in 2012, an increase of 108% from the previous revision. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017, which was a drop of 33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, a 49% increase, before reaching the current value of Rs 2,800 per sq.ft in 2024, which is an increase of 12%.

Overall, from 2002 to 2024, the guideline value has increased by 852%. There are no figures available for the revisions in years other than those specified above.

Guideline values in Ullagaram

In Ullagaram village, there are 298 streets under the Alandur SRO, with guideline values ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,800 per sq.ft, which is equal to the current guideline value of Jothi Ramalingam Street.

• John Kennadi Street: Rs 2,200 per sq.ft (2024)
• Jayaraman Street: Rs 2,200 per sq.ft (2024)
• Jayanthi Nagar Main: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 9th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 8th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 7th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Ramalingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jothi Ramalingam Street?

The Sub Registrar Office that covers Jothi Ramalingam Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. 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 registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jothi Ramalingam Street?

The current guideline value of Jothi Ramalingam Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 294 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, which is an overall increase of 852% over the years.

What is the land classification of Jothi Ramalingam Street?

Jothi Ramalingam Street is classified as Residential Class II Type - I.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Ullagaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at 7%.