Guideline Value for Jothi Venkatachalam Nagar Link Road

Jothi Venkatachalam Nagar Link Road guideline value

The current guideline value of Jothi Venkatachalam Nagar Link Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road 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 Link Road has changed

The guideline value has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, before increasing again to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 has raised the value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value saw a significant rise of 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, the value has increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 value is Rs 2,400 per sq.ft, placing Jothi Venkatachalam Nagar Link Road above this median.

• Jothi Venkatachalam Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Jothi Venkatachalam Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Jothi Venkatachalam Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Jothi Venkatachalam Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Jothi Venkatadchalam Nagar 3rd Main Road: Rs 2,750 per sq.ft (2024)
• Jothi Venkatachalam Nagar 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi Venkatachalam Nagar Link Road

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 to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Jothi Venkatachalam Nagar Link Road?

The Jothi Venkatachalam Nagar Link Road falls under 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 reference when registering a property in Madambakkam. It serves as a basis for calculating the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling a property, the guideline value ensures that the transaction is documented at a fair value, helping to maintain transparency in property dealings. It is essential for both buyers and sellers to be aware of these values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Jothi Venkatachalam Nagar Link Road?

The current guideline value for Jothi Venkatachalam Nagar Link Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Jothi Venkatachalam Nagar Link Road?

Jothi Venkatachalam Nagar Link Road is classified as Commercial Class I Type - I.

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.

How is the stamp duty calculated for properties in Jothi Venkatachalam Nagar Link Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.