Guideline Value for JEEVARATHINAM NAGAR 1ST STREET

Jeevarathinam Nagar 1st Street guideline value

The current guideline value of Jeevarathinam Nagar 1st Street is Rs 2,200 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 IV Type - I.

How the guideline value of Jeevarathinam Nagar 1st Street has changed

The guideline value for Jeevarathinam Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and has now reached Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. The changes between the revisions indicate a 49% increase from 2017 to 2023, while the value decreased by 33% from 2012 to 2017.

Guideline values in Palavakkam

In Palavakkam, there are a total of 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median for these streets is Rs 3,300 per sq.ft, placing the guideline value of Jeevarathinam Nagar 1st Street below this median.

• Jeevarathinam Nagar: 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)
• Jeevanandam Street: Rs 2,800 per sq.ft (2024)
• Jeevanandam 1st Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevarathinam Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. 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 Jeevarathinam Nagar 1st Street?

The Jeevarathinam Nagar 1st Street falls under 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 details.

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

The guideline value is a crucial figure used during property registration in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property transaction occurs, the guideline value is considered to ensure that the correct amount of duty is collected. This value helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Jeevarathinam Nagar 1st Street?

The current guideline value of Jeevarathinam Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and is now Rs 2,200 per sq.ft in 2024.

What is the land classification for Jeevarathinam Nagar 1st Street?

The land classification for Jeevarathinam Nagar 1st Street is Residential Class IV Type - I.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this street?

The Neelankarai Sub Registrar Office covers Jeevarathinam Nagar 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.