Guideline Value for JEEVANANTHAM STREET

Jeevanantham Street guideline value

The current guideline value of Jeevanantham Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the jurisdiction of the Manavalanagar SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Jeevanantham Street has changed

In the 2007 revision, the guideline value was Rs 150 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 1,300 per sq.ft, marking an increase of 767%. However, in the 2017 revision, the value decreased to Rs 871 per sq.ft, a decline of 33%. The subsequent revisions in 2023 and 2024 maintained the value at Rs 1,300 per sq.ft, showing no change between these two years. The register does not have figures for the years 2002 and 2003 for this street.

From the 2017 revision to the 2023 revision, there was an increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Jeevanantham Street's 2024 guideline value is above this median.

• Jegan Street: Rs 700 per sq.ft (2024)
• Kaide Millath Street: Rs 500 per sq.ft (2024)
• Kalaivanar Street: Rs 500 per sq.ft (2024)
• Indhira Gandhi Street: Rs 700 per sq.ft (2024)
• Kamaraj Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Street (Kabilar Nagar): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevanantham Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty, charged at 7%, would amount to Rs 91,000, and the registration fee, charged at 2%, would be Rs 26,000. Together, the total fees would be 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeevanantham Street?

The Jeevanantham Street falls under the Manavalanagar Sub Registrar Office. The office is located at Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vengathur. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value when negotiating sale prices, as the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process helps maintain transparency in real estate transactions and ensures that the government receives appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Jeevanantham Street?

The current guideline value of Jeevanantham 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 significantly from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and has remained at Rs 1,300 per sq.ft in 2023 and 2024.

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

Other streets in Vengathur include Jegan Street at Rs 700 per sq.ft, Kaide Millath Street and Kalaivanar Street both at Rs 500 per sq.ft, Indhira Gandhi Street at Rs 700 per sq.ft, and Kamaraj Street and Kamaraj Street (Kabilar Nagar) both at Rs 1,300 per sq.ft.

What is the stamp duty for property in Jeevanantham Street?

The stamp duty for property in Jeevanantham Street is 7% of the guideline value. For a 1,000 sq.ft plot at Rs 1,300 per sq.ft, the stamp duty would be Rs 91,000.

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

The Sub Registrar Office for Jeevanantham Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.