Guideline Value for Jeeva Nagar

Jeeva Nagar guideline value

The current guideline value of Jeeva Nagar, located in Mangadu-B village under the Kunrathur SRO, is Rs 1,550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Jeeva Nagar has changed

The guideline value for Jeeva Nagar has undergone several revisions over the years. The earliest recorded revision in 2017 set the value at Rs 938 per sq.ft. This figure saw a significant increase to Rs 1,400 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,550 per sq.ft, reflecting an 11% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%.

Guideline values in Mangadu-B

Mangadu-B village has a total of 70 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing Jeeva Nagar's 2024 figure below this median.

• Kalaimagal Nagar: Rs 2,000 per sq.ft (2024)
• Charles Nagar: Rs 1,750 per sq.ft (2024)
• O.A.Royal Nagar: Rs 3,960 per sq.ft (2024)
• Addison Nagar Annex: Rs 1,750 per sq.ft (2024)
• Addison Nagar: Rs 1,750 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jeeva Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value amounts to Rs 15,50,000. The stamp duty is charged at 7%, resulting in Rs 1,08,500, while the registration fee at 2% totals Rs 31,000. Therefore, the combined cost for stamp duty and registration fee would be Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your specific property details.

Which Sub Registrar Office covers Jeeva Nagar?

The Jeeva Nagar area falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mangadu-B

The guideline value is a critical factor in the registration process when buying or selling property in Mangadu-B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jeeva Nagar?

The current guideline value of Jeeva Nagar is Rs 1,550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 938 per sq.ft in 2017 to Rs 1,550 per sq.ft in 2024, representing an overall increase of 65% during this period.

What are the other streets in Mangadu-B and their guideline values?

Other streets in Mangadu-B include Kalaimagal Nagar at Rs 2,000 per sq.ft, Charles Nagar at Rs 1,750 per sq.ft, and O.A.Royal Nagar at Rs 3,960 per sq.ft, among others.

How is stamp duty calculated for properties in Jeeva Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 15,50,000 would incur a stamp duty of Rs 1,08,500 at a rate of 7%.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it handles registrations for properties in Jeeva Nagar.