Guideline Value for Jeevan Nagar 5th street

Jeevan Nagar 5th street guideline value

The current guideline value of Jeevan Nagar 5th 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 5th street has changed

The guideline value for Jeevan Nagar 5th street has seen several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which was then reduced to Rs 3,015 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,500 per sq.ft in 2023, and finally rose to Rs 5,000 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

Looking at the changes between the revisions, the value increased by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 of Rs 5,000 per sq.ft for Jeevan Nagar 5th street is above this median.

• Jeevan Nagar 4th street: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar Main Road: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar 2nd Street: 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 5th 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, totaling Rs 4,50,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeevan Nagar 5th street?

The Sub Registrar Office that covers Jeevan Nagar 5th street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jeevan Nagar 5th street?

The current guideline value of Jeevan Nagar 5th 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 other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam that share the same guideline value of Rs 5,000 per sq.ft for 2024 include Jeevan Nagar 4th street, Jeevan Nagar Main Road, Jeevan Nagar 3rd Street, Jeevan Nagar 2nd Street, and Jeevan Nagar 1st Street.

What is the registration fee for properties in Jeevan Nagar 5th street?

The registration fee for properties in Jeevan Nagar 5th street is calculated at 2% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 50,00,000, the registration fee would be Rs 1,00,000.

Where can I find the Sub Registrar Office for Jeevan Nagar 5th street?

The Sub Registrar Office for Jeevan Nagar 5th street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.