Guideline Value for JEEVARATHINAM NAGAR 2ND STREET

Jeevarathinam Nagar 2nd Street guideline value

The current guideline value of Jeevarathinam Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Jeevarathinam Nagar 2nd Street has changed

The guideline value for Jeevarathinam Nagar 2nd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase of 10% from Rs 2,000 per sq.ft in 2023. Prior to that, the value was Rs 1,340 per sq.ft in 2017, reflecting a significant increase of 49% over the six-year period. The 2012 revision also recorded a value of Rs 2,000 per sq.ft, which was a decrease of 33% from the previous 2017 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Jeevarathinam Nagar 2nd Street's 2024 figure below that median.

• Jeevarathinam Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Jeevarathinam Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Jeevarathinam Nagar: 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be 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 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 2nd Street?

The Sub Registrar Office that covers Jeevarathinam Nagar 2nd Street is 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 factor in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Jeevarathinam Nagar 2nd Street?

The current guideline value of Jeevarathinam Nagar 2nd 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 increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What are the stamp duty and registration fees for property in Jeevarathinam Nagar 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, leading to a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this area?

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

What is the land classification for Jeevarathinam Nagar 2nd Street?

Jeevarathinam Nagar 2nd Street is classified as Residential Class IV Type - I according to the guideline value register.