Guideline Value for JEEVANANDAM 1ST CROSS STREET

Jeevanandam 1st Cross Street guideline value

The current guideline value of Jeevanandam 1st Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Jeevanandam 1st Cross Street has changed

The guideline value for Jeevanandam 1st Cross Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. Following this, the value significantly increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,800 per sq.ft in the 2024 revision, reflecting a 12% increase from the previous year.

In summary, the changes between the revisions show a 49% increase from 2017 to 2023 and a 12% overall increase from 2012 to 2024. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the 2024 guideline value of Jeevanandam 1st Cross Street below that median.

• Jeevanandam Street: Rs 2,800 per sq.ft (2024)
• Jeevarathinam Nagar: Rs 2,200 per sq.ft (2024)
• Jeevarathinam Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Jeevarathinam Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Jeevarathinam Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Jegabathi Rao Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevanandam 1st Cross Street

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, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to 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 also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jeevanandam 1st Cross Street?

The Sub Registrar Office that covers Jeevanandam 1st Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property in the area.

When a property is sold, the guideline value is used to calculate applicable fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jeevanandam 1st Cross Street?

The current guideline value of Jeevanandam 1st Cross Street 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 several times, starting from Rs 2,500 per sq.ft in 2012, decreasing to Rs 1,675 per sq.ft in 2017, then increasing to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,800 per sq.ft in 2024.

What is the land classification for Jeevanandam 1st Cross Street?

The land classification for Jeevanandam 1st Cross Street is Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. This office handles registrations for properties in the area.