Guideline Value for JEEVANANDAM STREET

Jeevanandam Street guideline value

The current guideline value of Jeevanandam Street in Arasankalani village, under the Selaiyur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified under Residential Class III Type - I.

How the guideline value of Jeevanandam Street has changed

The guideline value for Jeevanandam Street has undergone several revisions over the years. The earliest recorded value is from 2012, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 1,200 per sq.ft, and in the latest revision for 2024, it rose to Rs 1,300 per sq.ft, reflecting an increase of 8% from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has shown a modest increase of 8%. The current value of Rs 1,300 per sq.ft is below the median guideline value of Rs 2,100 per sq.ft for the 85 streets in Arasankalani under the Selaiyur SRO.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets with a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value is Rs 2,100 per sq.ft. Jeevanandam Street's 2024 figure of Rs 1,300 per sq.ft is below this median. Other streets in Arasankalani include:

• Jeeva Avenue: Rs 4,100 per sq.ft (2024)
• Jansirani Street: Rs 1,300 per sq.ft (2024)
• Iswarya Garden: Rs 1,650 per sq.ft (2024)
• Kakkan Street: Rs 1,300 per sq.ft (2024)
• Kamarajar Street: Rs 2,100 per sq.ft (2024)
• Kamatchi Street: Rs 1,300 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Arasankalani. It is used to determine the stamp duty and registration fees applicable at the time of registration. Buyers and sellers must consider this value as it directly impacts the costs associated with property transactions.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. Therefore, understanding the guideline value is essential for anyone looking to buy or sell property in this area.

Frequently asked questions

What is the current guideline value of Jeevanandam Street?

The current guideline value of Jeevanandam Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Jeevanandam Street?

Jeevanandam Street is classified under Residential Class III Type - I.

Where can I find the registration office for Jeevanandam Street?

The registration office for Jeevanandam Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in Jeevanandam Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.