Guideline Value for JEEVANLAL NAGAR

Jeevanlal Nagar guideline value

The current guideline value of Jeevanlal Nagar is Rs 3,700 per sq.ft, effective from 1 July 2024. This locality is situated in Thiruvottiyur village, which falls under the Thiruvottiyur SRO. The land classification for this area is Mixed Special Type - II.

How the guideline value of Jeevanlal Nagar has changed

The guideline value for Jeevanlal Nagar has undergone several revisions over the years. Starting from the earliest available figure in 2002, the guideline value was Rs 249 per sq.ft. This increased to Rs 292 per sq.ft in 2003, marking a 17% rise. The value then saw significant growth, reaching Rs 900 per sq.ft in 2007, which was a 208% increase. Following this, the guideline value rose to Rs 3,400 per sq.ft in 2012, reflecting a substantial increase of 278% from the previous revision.

In the subsequent revisions, the guideline value fluctuated. It decreased to Rs 2,278 per sq.ft in 2017, a decline of 33% from 2012. However, from 2017 to 2023, the value climbed to Rs 3,400 per sq.ft, which was a notable increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 3,700 per sq.ft, representing a 9% rise from the previous year.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Jeevanlal Nagar's current value above this median.

• Jeevarathinammal Nagar: Rs 3,300 per sq.ft (2024)
• Jothi Nagars/Streets/Cross Streets: Rs 1,900 per sq.ft (2024)
• Kailash Sector: Rs 3,300 per sq.ft (2024)
• Kakkan Street: Rs 3,300 per sq.ft (2024)
• Kalaivanar Nagar: Rs 1,500 per sq.ft (2024)
• Kalyani Chetty Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevanlal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, bringing the total cost for these fees to Rs 3,33,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeevanlal Nagar?

The Sub Registrar Office that covers Jeevanlal Nagar 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 Thiruvottiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvottiyur. It is used to determine the stamp duty and registration fees that need to be paid. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jeevanlal Nagar?

The current guideline value of Jeevanlal Nagar is Rs 3,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 249 per sq.ft in 2002 to Rs 3,700 per sq.ft in 2024, which is an overall increase of 1386% over the years.

What is the land classification of Jeevanlal Nagar?

Jeevanlal Nagar is classified as Mixed Special Type - II, which indicates the nature of land use in the area.

What are the stamp duty rates for property in Jeevanlal Nagar?

The stamp duty for property in Jeevanlal Nagar is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Sub Registrar Office for Jeevanlal Nagar located?

The Thiruvottiyur Sub Registrar Office, which covers Jeevanlal Nagar, is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.