Guideline Value for Jeevan Nagar 3rd Street

Jeevan Nagar 3rd Street guideline value

The current guideline value of Jeevan Nagar 3rd Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - I.

How the guideline value of Jeevan Nagar 3rd Street has changed

In the 2012 revision, the guideline value was set at Rs 4,500 per sq.ft. This figure decreased to Rs 3,015 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 4,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 5,000 per sq.ft in the 2024 revision, representing an 11% rise. The register has no figure for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 11%. The revision figures show a substantial increase of 49% from 2017 to 2023, followed by an 11% rise from 2023 to 2024.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, placing Jeevan Nagar 3rd Street's 2024 figure above this median.

• Jeevan Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar 1st 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 3rd 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, bringing the total fees to Rs 4,50,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Jeevan Nagar 3rd Street?

The Sub Registrar Office that covers Jeevan Nagar 3rd 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 of property transactions in Adambakkam. 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 influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jeevan Nagar 3rd Street?

The current guideline value of Jeevan Nagar 3rd 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 experienced several changes: it was Rs 4,500 per sq.ft in 2012, decreased to Rs 3,015 per sq.ft in 2017, then increased to Rs 4,500 per sq.ft in 2023, and finally rose to Rs 5,000 per sq.ft in 2024.

What is the land classification of Jeevan Nagar 3rd Street?

Jeevan Nagar 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 50,00,000, the total fees would amount to Rs 4,50,000.

Which office handles the registration for Jeevan Nagar 3rd Street?

The registration for Jeevan Nagar 3rd Street is handled by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.