Guideline Value for JEEVARATHINAM NAGAR

Jeevarathinam Nagar guideline value

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

How the guideline value of Jeevarathinam Nagar has changed

Over the years, the guideline value of Jeevarathinam Nagar has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a 100% rise. However, the value then dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The 2023 revision saw a significant increase to Rs 2,000 per sq.ft, and the latest revision in 2024 has further increased it to Rs 2,200 per sq.ft, reflecting a 10% rise.

From 2017 to 2023, the guideline value rose by 49%. Overall, from the 2007 revision to the current 2024 guideline value, there has been a total increase of 120%. The register has no figures for the years 2002 and 2003 for this street.

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 guideline value for these streets is Rs 3,300 per sq.ft. The guideline value for Jeevarathinam Nagar is below this median.

• Jeevarathinam Nagar 1st Street: 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)
• Jeevanandam Street: Rs 2,800 per sq.ft (2024)
• Jegabathi Rao Street: Rs 1,700 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

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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total 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?

The Sub Registrar Office that covers Jeevarathinam Nagar 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 for property transactions in Palavakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the official rates set by the government. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Jeevarathinam Nagar?

The current guideline value of Jeevarathinam Nagar 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 1,000 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 120% over the years.

What is the land classification of Jeevarathinam Nagar?

Jeevarathinam Nagar is classified as Residential Class IV Type - I.

Where can I find the Neelankarai Sub Registrar Office?

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

How is the stamp duty calculated for property in Jeevarathinam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,54,000.