Guideline Value for Jeevan Nagar 4th street

Jeevan Nagar 4th street guideline value

The current guideline value of Jeevan Nagar 4th 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 4th street has changed

The guideline value for Jeevan Nagar 4th street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 472 per sq.ft. This increased to Rs 700 per sq.ft in 2003, marking a rise of 48%. The value then saw a significant increase to Rs 1,681 per sq.ft in 2007, which was an increase of 140%. Following this, the value rose to Rs 4,500 per sq.ft in 2012, reflecting a substantial increase of 168% from the previous revision. However, it decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. The value then increased again to Rs 4,500 per sq.ft in 2023, and finally reached Rs 5,000 per sq.ft in 2024, an increase of 11% from the previous year.

There are no figures available for the revisions prior to 2002 or any years without a specified value for this street. The overall change from 2002 to 2024 shows a remarkable increase of 959% in the guideline value.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets listed under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Jeevan Nagar 4th street's 2024 figure above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty, charged at 7%, would be Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000, leading to a total of Rs 4,50,000 for these fees. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeevan Nagar 4th street?

The Sub Registrar Office that covers Jeevan Nagar 4th 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 plays a crucial role during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered to ascertain the applicable fees. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Jeevan Nagar 4th street?

The current guideline value of Jeevan Nagar 4th 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 significantly from Rs 472 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 959% over this period.

What is the land classification for Jeevan Nagar 4th street?

Jeevan Nagar 4th street is classified under Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 50,00,000, the total fees would amount to Rs 4,50,000.