Guideline Value for JEEVARATHINAM STREET

Jeevarathinam Street guideline value

The current guideline value of Jeevarathinam Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Jeevarathinam Street has changed

The guideline value for Jeevarathinam Street has seen significant changes over the years. The earliest recorded figure is from 2003, where the value was Rs 717 per sq.ft. This increased to Rs 950 per sq.ft in 2007, marking a substantial rise of 32%. By 2012, the value had jumped to Rs 4,000 per sq.ft, an increase of 321%. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a drop of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, followed by a further increase to the current rate of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Notably, there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 514%.

Guideline values in Arumbakkam

In Arumbakkam village, there are 391 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, which means that Jeevarathinam Street's current value is below this median.

• J.D.Durairaj Nagar: Rs 3,800 per sq.ft (2024)
• Jayaraman Street: Rs 5,700 per sq.ft (2024)
• Jawahar Street: Rs 5,500 per sq.ft (2024)
• Jawaharlal Nehru Road (100 Feet Road): Rs 14,300 per sq.ft (2024)
• Janakiraman Colony Extn: Rs 6,600 per sq.ft (2024)
• Janakiraman Colony: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevarathinam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jeevarathinam Street?

The Sub Registrar Office that covers Jeevarathinam Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Arumbakkam. When you buy or sell property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory costs associated with the transaction. It ensures that the government receives the appropriate revenue from property sales.

Additionally, the guideline value helps in establishing a standard for property transactions, making it easier for buyers and sellers to understand the value of properties in the area. It acts as a reference point to ensure transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Jeevarathinam Street?

The current guideline value of Jeevarathinam Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 717 per sq.ft in 2003 to the current rate of Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 514% over the years.

What is the median guideline value in Arumbakkam?

The median guideline value in Arumbakkam is Rs 6,000 per sq.ft, with Jeevarathinam Street's current value being below this median.

What fees are associated with buying property in Jeevarathinam Street?

When buying property in Jeevarathinam Street, the fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.