Guideline Value for JEEVANANDAM STREET

Jeevanandam Street guideline value

The current guideline value of Jeevanandam Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Jeevanandam Street has changed

The guideline value for Jeevanandam Street has seen several revisions over the years. In 2002, the guideline value was Rs 84 per sq.ft, which increased to Rs 94 per sq.ft in 2003, marking a 12% rise. The value then surged significantly to Rs 400 per sq.ft in 2007, reflecting a 326% increase. Following that, the value rose dramatically to Rs 2,500 per sq.ft in 2012, a 525% increase from the previous revision. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, indicating a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 2,500 per sq.ft, which is a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft, representing a 12% increase from 2023. It is important to note that the register has no figures for revisions in years other than those specified.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Jeevanandam Street's 2024 figure below that median.

• Jeevanandam 1st Cross 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 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, while the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jeevanandam Street?

The Sub Registrar Office that covers Jeevanandam 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Palavakkam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps determine the legal obligations associated with the transaction. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can influence the overall cost of the property transfer.

Frequently asked questions

What is the current guideline value of Jeevanandam Street?

The current guideline value of Jeevanandam 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 from Rs 84 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting a significant overall increase of 3233% over the years.

What are the other streets in Palavakkam with their guideline values?

Other streets in Palavakkam include Jeevanandam 1st Cross Street at Rs 2,800 per sq.ft, Jeevarathinam Nagar at Rs 2,200 per sq.ft, and Jegabathi Rao Street at Rs 1,700 per sq.ft, among others.

What fees are associated with buying property on Jeevanandam Street?

When buying property on Jeevanandam Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Jeevanandam Street located?

The Sub Registrar Office for Jeevanandam Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.