Guideline Value for Jeeva Nagar

Jeeva Nagar guideline value

The current guideline value of Jeeva Nagar, located in Neelamangalam village under the Gooduvancheri SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Jeeva Nagar has changed

The guideline value for Jeeva Nagar has seen several revisions over the years. In 2007, the value was Rs 125 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it dropped to Rs 402 per sq.ft in 2017. Following this, the value remained stable at Rs 600 per sq.ft from 2017 to 2023, and has continued at the same rate through the 2024 revision.

From 2017 to 2023, there was a 49% increase in the guideline value, while the change from 2012 to 2017 was a decrease of 33%. The most notable change occurred from 2007 to 2012, with a remarkable increase of 380%. Overall, from 2007 to 2024, the guideline value has increased by 380%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median value is Rs 600 per sq.ft, which is the same as the current guideline value for Jeeva Nagar.

• Kamaraj Nagar: Rs 600 per sq.ft (2024)
• Kavalkaran Nagar: Rs 600 per sq.ft (2024)
• K.C.R.Nagar: Rs 1,344 per sq.ft (2024)
• K.C.R. Nagar Phase -II: Rs 1,344 per sq.ft (2024)
• Kesavan Garden: Rs 1,300 per sq.ft (2024)
• Kkr Nagar: Rs 900 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. Duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jeeva Nagar?

The Sub Registrar Office that covers Jeeva Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Neelamangalam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable at the time of sale.

When buying or selling property, it is important to note that the guideline value is the baseline for taxation purposes. The actual sale price cannot be lower than the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jeeva Nagar?

The current guideline value of Jeeva Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, starting at Rs 125 per sq.ft in 2007, increasing to Rs 600 per sq.ft in 2012, then dropping to Rs 402 per sq.ft in 2017. It has remained stable at Rs 600 per sq.ft from 2017 through 2024.

What is the land classification of Jeeva Nagar?

Jeeva Nagar is classified as Residential Class IV Type - II, indicating its suitability for residential development.

What other streets have the same guideline value in Neelamangalam?

Other streets in Neelamangalam that share the same guideline value of Rs 600 per sq.ft include Kamaraj Nagar and Kavalkaran Nagar.

Where can I find the Sub Registrar Office for Jeeva Nagar?

The Sub Registrar Office for Jeeva Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.