Guideline Value for Jeeva Nagar (Ward-10)

Jeeva Nagar (Ward-10) guideline value

The current guideline value for Jeeva Nagar (Ward-10) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Jeeva Nagar (Ward-10) has changed

The guideline value for Jeeva Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and has now risen to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, there has been an 8% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Jeeva Nagar's 2024 figure below that median.

• Jeeva Nagar: Rs 1,300 per sq.ft (2024)
• J.C.P. Garden (Ward-10): Rs 2,200 per sq.ft (2024)
• J.B. Garden Phase-III: Rs 2,700 per sq.ft (2024)
• J.B. Garden Phase-II: Rs 2,700 per sq.ft (2024)
• J.B. Garden Phase-1: Rs 2,700 per sq.ft (2024)
• J.J. Garden Part-I: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jeeva Nagar (Ward-10)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jeeva Nagar (Ward-10)?

The Sub Registrar Office covering Jeeva Nagar (Ward-10) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration of property transactions in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both the buyer and seller. It is essential to be aware of the current guideline value to ensure compliance with registration regulations and to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Jeeva Nagar (Ward-10)?

The current guideline value of Jeeva Nagar (Ward-10) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and is now Rs 1,300 per sq.ft in 2024.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, with Jeeva Nagar's current value being below this median.

What are the registration fees for property in Jeeva Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2%, calculated on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Jeeva Nagar located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers Jeeva Nagar (Ward-10).