Guideline Value for Sri Jothi Nagar

Sri Jothi Nagar guideline value

The current guideline value of Sri Jothi Nagar, located in Boodhur village under the Madurandakam SRO, is Rs 100 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Jothi Nagar has changed

Over the years, the guideline value for Sri Jothi Nagar has seen several revisions. The earliest recorded revision was in 2007, where the guideline value was Rs 20 per sq.ft. This increased to Rs 75 per sq.ft in 2012, marking a significant rise of 275%. However, from 2012 to 2017, the value decreased by 33% to Rs 50 per sq.ft. The next revision in 2023 maintained the value at Rs 100 per sq.ft, which was unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 100%, bringing the value back to Rs 100 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 400%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Boodhur

In Boodhur village, five streets under the Madurandakam SRO have a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 101 per sq.ft. The guideline value for Sri Jothi Nagar is below this median.

• Sri Adhidhya Nagar Phase-I: Rs 101 per sq.ft (2024)
• Lakshmi Nagar: Rs 100 per sq.ft (2024)
• Guberan Nagar: Rs 300 per sq.ft (2024)
• Akshaya Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jothi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty, charged at 7%, would amount to Rs 7,000, while the registration fee at 2% would be Rs 2,000, leading to a total of Rs 9,000. 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 Sri Jothi Nagar?

The Sub Registrar Office that covers Sri Jothi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Boodhur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must ensure that the property is registered at the guideline value or the sale price, whichever is higher.

Additionally, understanding the guideline value helps in ensuring compliance with local regulations and facilitates a smoother registration process. It is advisable for both buyers and sellers to be aware of the current guideline values to avoid any discrepancies during the registration of property.

Frequently asked questions

What is the current guideline value of Sri Jothi Nagar?

The current guideline value of Sri Jothi Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, reflecting a total increase of 400% over the years.

What is the stamp duty on property in Sri Jothi Nagar?

The stamp duty for property in Sri Jothi Nagar is 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 7,000.

Where is the Sub Registrar Office for Sri Jothi Nagar located?

The Sub Registrar Office covering Sri Jothi Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification of Sri Jothi Nagar?

Sri Jothi Nagar falls under the Residential Class I Type - I land classification, which is important for understanding its usage and regulatory compliance.