Guideline Value for Jeeva Nagar

Jeeva Nagar guideline value

The current guideline value of Jeeva Nagar 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 has changed

The guideline value for Jeeva Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and finally, it reached 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 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are 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 the village is Rs 1,600 per sq.ft, indicating that Jeeva Nagar's 2024 figure is below this median.

• J.C.P. Garden (Ward-10): Rs 2,200 per sq.ft (2024)
• Jeeva Nagar (Ward-10): Rs 1,300 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

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, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Jeeva Nagar?

The Sub Registrar Office that covers Jeeva Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations regarding the sale price.

Frequently asked questions

What is the current guideline value of Jeeva Nagar?

The current guideline value of Jeeva Nagar 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 to Rs 1,200 per sq.ft in 2023, and finally to 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, which is above the current guideline value of Jeeva Nagar.

What are the stamp duty and registration fees for property in Jeeva Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 13,00,000, the total fees would be Rs 1,17,000.

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 the Jeeva Nagar area.