Guideline Value for JEEVANANDAM STREET

Jeevanandam Street guideline value

The current guideline value of Jeevanandam Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Manali village under the Thiruvottiyur SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Jeevanandam Street has changed

The guideline value for Jeevanandam Street has undergone several revisions over the years. In 2002, the guideline value was Rs 80 per sq.ft, which increased to Rs 90 per sq.ft in 2003. The value saw a significant rise to Rs 200 per sq.ft in 2007, followed by a substantial jump to Rs 1,100 per sq.ft in 2012. However, there was a decrease to Rs 737 per sq.ft in 2017. The value then increased again to Rs 1,100 per sq.ft in 2023, and currently stands at Rs 1,200 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was an increase of 13%; from 2003 to 2007, the increase was 122%; from 2007 to 2012, the value rose by 450%; however, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,400%.

Guideline values in Manali

In Manali village, there are 84 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,001 to Rs 3,300 per sq.ft. The median value is Rs 1,200 per sq.ft, which is the same as the current guideline value for Jeevanandam Street.

• Jalaganda Mariamman Koil Street: Rs 1,200 per sq.ft (2024)
• Kakkanji Street: Rs 1,200 per sq.ft (2024)
• Kalaignar Street: Rs 1,200 per sq.ft (2024)
• Jaageer Hussain Street: Rs 1,200 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,200 per sq.ft (2024)
• Kamarajar Salai: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevanandam Street

For a property of 1,000 sq.ft at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty, charged at 7%, would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000. Together, the total cost for stamp duty and registration fee would be Rs 1,08,000. It is important to note that 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 Jeevanandam Street?

The Sub Registrar Office that covers Jeevanandam Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Manali, this value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the government records.

It is essential for buyers and sellers to be aware of the guideline value when negotiating prices, as it serves as a benchmark for property transactions. This ensures transparency and compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Jeevanandam Street?

The current guideline value of Jeevanandam Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 1,400% over this period.

What is the land classification for Jeevanandam Street?

Jeevanandam Street is classified as Residential Special Type - II under the guideline value register.

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

The Thiruvottiyur Sub Registrar Office covers Jeevanandam Street and is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price of the property.