Guideline Value for Jothima Nagar River side

Jothima Nagar River side guideline value

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

How the guideline value of Jothima Nagar River side has changed

The guideline value for Jothima Nagar River side has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 749 per sq.ft. This increased to Rs 826 per sq.ft in 2003, marking a 10% rise. The following revisions saw further increases, with the 2007 revision recording Rs 1,200 per sq.ft, a significant jump of 45%. By 2012, the value reached Rs 2,600 per sq.ft, reflecting a substantial increase of 117%. However, in 2017, the value decreased to Rs 1,742 per sq.ft, which was a decline of 33%. The 2023 revision brought the value back up to Rs 2,600 per sq.ft, and the most recent revision in 2024 set the current guideline value at Rs 2,800 per sq.ft, representing an 8% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 274%. The register has no figures for the years between these revisions for this 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. Jothima Nagar River side's 2024 figure is below this median.

• Jothi ammal Street: 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 Jothima Nagar River side

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, while the registration fee at 2% would be Rs 56,000. Together, the total fees would be Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jothima Nagar River side?

The Sub Registrar Office that covers Jothima Nagar River side is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

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

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 Jothima Nagar River side?

The current guideline value of Jothima Nagar River side 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 749 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 274%.

What is the land classification of Jothima Nagar River side?

Jothima Nagar River side is classified as Residential Class IV Type - I.

Where is the Periamet Sub Registrar Office located?

The Periamet Sub Registrar Office is 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 guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur total fees of Rs 2,52,000.