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Guideline Value

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Guideline Value for Jeeva Avenue 7th Street/Periyar Nagar-2

₹3850/sq.ft.

The guideline value for Jeeva Avenue 7th Street/periyar Nagar-2 in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Jeeva Avenue 7th Street/periyar Nagar-2

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Jeeva Avenue 7th Street/Periyar Nagar-2 guideline value

The current guideline value of Jeeva Avenue 7th Street/Periyar Nagar-2 is Rs 3,850 per sq.ft, effective from 1 July 2024. This property is located in the Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Jeeva Avenue 7th Street/Periyar Nagar-2 has changed

The guideline value for Jeeva Avenue 7th Street/Periyar Nagar-2 has seen several revisions over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision. The latest revision in 2024 raised it further to Rs 3,850 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, there has been a significant increase of 64% in the guideline value.

It is important to note that there are no registered figures for this street in the years 2002, 2003, 2007, and 2012. The increase from 2017 to 2023 was 49%, reflecting a considerable rise in the property values in this period.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, indicating that Jeeva Avenue 7th Street/Periyar Nagar-2 is above the median value.

Stamp duty and registration fee for property in Jeeva Avenue 7th Street/Periyar Nagar-2

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Jeeva Avenue 7th Street/Periyar Nagar-2?

The Jeeva Avenue 7th Street/Periyar Nagar-2 is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in the registration process for property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions. It is crucial to refer to the latest guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Jeeva Avenue 7th Street/Periyar Nagar-2?

The current guideline value of Jeeva Avenue 7th Street/Periyar Nagar-2 is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64%.

What is the median guideline value in Madipakkam-1?

The median guideline value for the 1,823 streets in Madipakkam-1 is Rs 2,750 per sq.ft, indicating that Jeeva Avenue 7th Street/Periyar Nagar-2 is above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty is Rs 2,69,500 and the registration fee is Rs 77,000, totaling Rs 3,46,500.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.