Guideline Value for Jothibasu Nagar

Jothibasu Nagar guideline value

The current guideline value of Jothibasu Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Perinjampakkam village, under the jurisdiction of the Sriperumpudur SRO, with a land classification of Mixed Type - II.

How the guideline value of Jothibasu Nagar has changed

In the 2012 revision, the guideline value for Jothibasu Nagar was set at Rs 500 per sq.ft. This was a decrease from the 2017 revision, where the value was Rs 335 per sq.ft, marking a drop of 33%. However, between the 2017 and 2023 revisions, there was a significant increase of 49%, bringing the value back to Rs 500 per sq.ft in 2023. The 2024 revision maintains this figure, showing no change from the previous year.

The register has no figures for Jothibasu Nagar for the years 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 500 per sq.ft.

Guideline values in Perinjampakkam

In Perinjampakkam, there are 18 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 500 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Jothibasu Nagar's 2024 figure above this median.

• Indhira Nagar 2nd Street: Rs 100 per sq.ft (2024)
• Indhira Nagar 1st Street: Rs 100 per sq.ft (2024)
• Krishna Nagar: Rs 200 per sq.ft (2024)
• M.G.R.Cross Street: Rs 100 per sq.ft (2024)
• M.G.R.Nagar: Rs 100 per sq.ft (2024)
• Ashok Avenue: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Jothibasu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value comes to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jothibasu Nagar?

The Sub Registrar Office that covers Jothibasu Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Perinjampakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded at a fair value as per the government's regulations. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Jothibasu Nagar?

The current guideline value of Jothibasu Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent figure of Rs 500 per sq.ft established in 2023 and maintained in 2024. It was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012.

What is the land classification of Jothibasu Nagar?

Jothibasu Nagar has a land classification of Mixed Type - II, indicating a diverse use of land in the area.

What are the stamp duty rates for property in Jothibasu Nagar?

The stamp duty for property transactions in Jothibasu Nagar is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Which office handles property registrations in Jothibasu Nagar?

The Sriperumpudur Sub Registrar Office is responsible for property registrations in Jothibasu Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.