Guideline Value for Jothi ammal Street

Jothi ammal Street guideline value

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

How the guideline value of Jothi ammal Street has changed

The guideline value for Jothi ammal Street has undergone several revisions over the years. In 2002, the value was Rs 469 per sq.ft, which increased to Rs 517 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 1,000 per sq.ft in 2007, representing a 93% increase. Following this, the value rose dramatically to Rs 2,600 per sq.ft in 2012, reflecting a 160% increase. However, from 2012 to 2017, the value decreased to Rs 1,742 per sq.ft, showing a decline of 33%. The value then increased to Rs 2,600 per sq.ft in 2023, with a notable 49% rise, before reaching the current value of Rs 2,800 per sq.ft in 2024, which is an 8% increase.

It is important to note that the register has no figures for the years not mentioned above. The overall change from 2002 to 2024 shows an increase of 497% in the guideline value for Jothi ammal Street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Jothi ammal Street's 2024 guideline value is below this median.

• Jothima Nagar River side: Rs 2,800 per sq.ft (2024)
• KajaMohideen Street: Rs 3,900 per sq.ft (2024)
• JayaVinayagar Street: Rs 3,900 per sq.ft (2024)
• JamalMohammed Hussain Street: Rs 3,900 per sq.ft (2024)
• Jamal Mohamed Mohideen Street: Rs 3,900 per sq.ft (2024)
• Kamarajar Nagar: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi ammal 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, making a total of Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jothi ammal Street?

The Sub Registrar Office that covers Jothi ammal Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jothi ammal Street?

The current guideline value of Jothi ammal 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 from Rs 469 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 497% over this period.

What is the land classification for Jothi ammal Street?

Jothi ammal Street is classified as Residential Class IV Type - I under the Periamet SRO.

Where can I find the Sub Registrar Office for Jothi ammal Street?

The Sub Registrar Office for Jothi ammal Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For instance, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 2,52,000 in fees.