Guideline Value for Jothi nagar 3rd street

Jothi nagar 3rd street guideline value

The current guideline value for Jothi nagar 3rd street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Jothi nagar 3rd street has changed

The guideline value for Jothi nagar 3rd street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,340 per sq.ft. The value remained at Rs 2,000 per sq.ft until the 2023 revision, which increased it to Rs 2,000 per sq.ft. Following this, the 2024 revision raised the value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam village, there are 1,151 streets under the Selaiyur SRO with 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, placing Jothi nagar 3rd street's 2024 figure below that median.

• Jothi Nagar 3rd Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 4th Main Road: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Jothi Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi nagar 3rd street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property.

Which Sub Registrar Office covers Jothi nagar 3rd street?

The Jothi nagar 3rd street 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, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of the transaction. This value is regularly updated to reflect changes in the real estate market, and it is advisable to check for the latest figures before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Jothi nagar 3rd street?

The current guideline value of Jothi nagar 3rd street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. The value also increased significantly from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023.

What are the stamp duty and registration fees for properties in Jothi nagar 3rd street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Jothi nagar 3rd street?

The Selaiyur Sub Registrar Office covers Jothi nagar 3rd street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Jothi nagar 3rd street?

Jothi nagar 3rd street is classified as Residential Special Type - I, indicating its suitability for residential purposes.