Guideline Value for Jeeva Nagar 1st Street

Jeeva Nagar 1st Street guideline value

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

How the guideline value of Jeeva Nagar 1st Street has changed

The guideline value for Jeeva Nagar 1st Street has undergone 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 most recent revision in 2024 raised the guideline value further to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value saw a significant increase of 49%. Overall, from the 2017 revision to the 2024 revision, there has been a total increase of 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Jeeva Nagar 1st Street is above this median.

• Jeeva Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Jeeva Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Jeeva Nagar: Rs 3,850 per sq.ft (2024)
• Jeeva Avenue Extension/Periyar Nagar 7th Street: Rs 3,850 per sq.ft (2024)
• Jeeva Avenue 7th Street/Periyar Nagar-2: Rs 3,850 per sq.ft (2024)
• Jeeva Avenue: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Jeeva Nagar 1st Street

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 cost together to Rs 3,46,500. 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 detailed calculations.

Which Sub Registrar Office covers Jeeva Nagar 1st Street?

The Jeeva Nagar 1st Street 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 plays a crucial role in the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and consistency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. Buyers and sellers should be aware of these costs to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Jeeva Nagar 1st Street?

The current guideline value of Jeeva Nagar 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

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

What was the guideline value in 2023?

The guideline value for Jeeva Nagar 1st Street in 2023 was Rs 3,500 per sq.ft.

Are there other streets with the same guideline value?

Yes, other streets in Madipakkam-1, such as Jeeva Nagar 2nd Street, Jeeva Nagar 3rd Street, and Jeeva Avenue, also have a guideline value of Rs 3,850 per sq.ft in 2024.

Where can I find the Velacheri Sub Registrar Office?

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