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Guideline Value

Corporate

Guideline Value for Jothi Venkatachalam Nagar 1st Street

₹2750/sq.ft.

The guideline value for Jothi Venkatachalam Nagar 1st Street in Madambakkam village (Selaiyur SRO, Chengalpattu zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Madambakkam

Village

Selaiyur

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.36,bharathmatha Salai(opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur,chennai - 600 073.
044-22391102
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Jothi Venkatachalam Nagar 1st Street

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Jothi Venkatachalam Nagar 1st Street guideline value

The current guideline value of Jothi Venkatachalam Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Jothi Venkatachalam Nagar 1st Street has changed

The guideline value for Jothi Venkatachalam Nagar 1st Street has undergone several revisions over the years. Starting from the 2012 revision, the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 2,500 per sq.ft in 2023, and has risen further to Rs 2,750 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. The overall change from the 2012 revision to the 2024 revision shows a 10% increase in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, positioning Jothi Venkatachalam Nagar 1st Street above this median.

Stamp duty and registration fee for property in Jothi Venkatachalam Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jothi Venkatachalam Nagar 1st Street?

The Sub Registrar Office that covers Jothi Venkatachalam Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the transaction is transparent and fair from a taxation perspective.

Frequently asked questions

What is the current guideline value of Jothi Venkatachalam Nagar 1st Street?

The current guideline value of Jothi Venkatachalam Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being an increase from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, a change of 10%. The value was Rs 1,675 per sq.ft in 2017, reflecting a 49% increase from that year to 2023.

What is the land classification for Jothi Venkatachalam Nagar 1st Street?

Jothi Venkatachalam Nagar 1st Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for this street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,47,500.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more details by visiting the provided link.