Guideline Value for Jeevan Nagar 2nd Street

Jeevan Nagar 2nd Street guideline value

The current guideline value of Jeevan Nagar 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Jeevan Nagar 2nd Street has changed

The guideline value for Jeevan Nagar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft. However, in 2017, it decreased to Rs 3,015 per sq.ft. The value then increased significantly to Rs 4,500 per sq.ft in 2023 and further rose to Rs 5,000 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. Following that, the value increased by 49% from 2017 to 2023. The change from 2023 to 2024 reflects an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Jeevan Nagar 2nd Street is above this median.

• Jeevan Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar 4th street: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar 5th street: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar Main Road: Rs 5,000 per sq.ft (2024)
• Jinna Lane/Labbai Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevan Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000. Together, the total fees would be Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeevan Nagar 2nd Street?

The Sub Registrar Office that covers Jeevan Nagar 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers must ensure that the sale price is equal to or higher than the guideline value to avoid any legal issues during registration.

When a property is registered, the guideline value helps to standardize property transactions and ensures that the government receives the appropriate revenue from stamp duties. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Jeevan Nagar 2nd Street?

The current guideline value of Jeevan Nagar 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then to Rs 4,500 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Jeevan Nagar 2nd Street?

For a property with a guideline value of Rs 5,000 per sq.ft, the total stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, totaling Rs 4,50,000.

Which Sub Registrar Office covers Jeevan Nagar 2nd Street?

The Alandur Sub Registrar Office covers Jeevan Nagar 2nd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Jeevan Nagar 2nd Street?

Jeevan Nagar 2nd Street falls under the Residential Class I Type - I land classification.