Guideline Value for Jothy Street

Jothy Street guideline value

The current guideline value of Jothy Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Jothy Street has changed

The guideline value for Jothy Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,800 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,900 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 reflects a 6% increase. Overall, from 2012 to 2024, there has been a slight increase of 6% in the guideline value.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. Jothy Street's current figure is below this median.

• J.V. Ekambaram Avenue: Rs 2,700 per sq.ft (2024)
• J.K.R. Nagar / Street: Rs 2,700 per sq.ft (2024)
• Kadumbadi Amman 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Kadumbadi Amman 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kadumbadi Amman 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kadumbadi Amman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jothy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, resulting in a total of Rs 1,71,000. 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 Jothy Street?

The Sub Registrar Office that covers Jothy Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is essential during the registration process of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jothy Street?

The current guideline value of Jothy Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Jothy Street?

Jothy Street is classified as Residential Class III Type - I under the current guidelines.

What are the stamp duty rates for property in Jothy Street?

The stamp duty rate for property transactions in Jothy Street is 7%, applied to the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Jothy Street?

The Madhavaram Sub Registrar Office covers Jothy Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.