Guideline Value for Jothi park'

Jothi park' guideline value

The current guideline value of Jothi park' is Rs 1,980 per sq.ft. This property is located in Chikkarayapuram village, under the Kunrathur SRO, and is classified as Mixed Special Type - I land.

How the guideline value of Jothi park' has changed

The guideline value for Jothi park' has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012. However, it then decreased to Rs 938 per sq.ft in 2017, before rising to Rs 1,800 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft.

Notable changes between the revisions include a 367% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then saw a substantial rise of 92% from 2017 to 2023, and a further increase of 10% from 2023 to 2024. The overall change from 2007 to 2024 reflects a remarkable increase of 560%.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft, with the median value being Rs 1,980 per sq.ft. Jothi park' aligns with this median value.

• Kamatchi Amman Nagar: Rs 1,980 per sq.ft (2024)
• Gandhi Street: Rs 1,980 per sq.ft (2024)
• Krishna Nagar: Rs 1,980 per sq.ft (2024)
• Kulakarai Street: Rs 1,980 per sq.ft (2024)
• Kunrathur Main Road: Rs 1,760 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Jothi park'

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jothi park'?

The Sub Registrar Office that covers Jothi park' is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chikkarayapuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives its due revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Jothi park'?

The current guideline value of Jothi park' is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 560% over this period.

What are the other streets with the same guideline value in Chikkarayapuram?

Other streets in Chikkarayapuram with the same guideline value of Rs 1,980 per sq.ft include Kamatchi Amman Nagar, Gandhi Street, Krishna Nagar, and Kulakarai Street.

How is the stamp duty calculated for properties in Jothi park'?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,38,600 based on the current guideline value.

Where can I find the Sub Registrar Office for Jothi park'?

The Sub Registrar Office for Jothi park' is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information about your SRO online.