Guideline Value for Jothi Ramalingam Street

Jothi Ramalingam Street guideline value

The current guideline value of Jothi Ramalingam Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Periyakuppam village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Jothi Ramalingam Street has changed

Since the 2007 revision, the guideline value has seen significant changes. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a substantial rise of 400%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, reflecting a drop of 33%. The 2023 revision saw another increase to Rs 1,000 per sq.ft, followed by a 10% rise to the current value of Rs 1,100 per sq.ft in the 2024 revision.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figures for Jothi Ramalingam Street for the years 2002 and 2003.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the current guideline value of Jothi Ramalingam Street.

• J.N. Road: Rs 3,300 per sq.ft (2024)
• Kabilar Street: Rs 550 per sq.ft (2024)
• Jayaprakash Street: Rs 1,320 per sq.ft (2024)
• Kalaivanar Street: Rs 1,100 per sq.ft (2024)
• Kalamegam Street: Rs 550 per sq.ft (2024)
• Jansie Rani Street: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jothi Ramalingam Street?

The Sub Registrar Office that covers Jothi Ramalingam Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standard valuation rather than the sale price alone.

When a property is sold, the guideline value helps to determine the minimum amount for which the property can be registered. This ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Jothi Ramalingam Street?

The current guideline value of Jothi Ramalingam Street is Rs 1,100 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 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for Jothi Ramalingam Street?

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

Where is the Tiruvallur Joint 1 Sub Registrar Office located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.

How is the stamp duty calculated for properties on Jothi Ramalingam Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000.