Guideline Value for Jeevan Nagar Main Road

Jeevan Nagar Main Road guideline value

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

How the guideline value of Jeevan Nagar Main Road has changed

The guideline value for Jeevan Nagar Main Road has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 472 per sq.ft. It increased to Rs 538 per sq.ft in 2003, marking a 14% rise. The value then saw a substantial increase of 212% to reach Rs 1,681 per sq.ft in 2007. Following this, the 2012 revision recorded a decrease to Rs 4,500 per sq.ft, a drop of 33% from the previous figure. The guideline value rose again to Rs 3,015 per sq.ft in 2017, reflecting a 49% increase. The most recent revision in 2023 set the value at Rs 4,500 per sq.ft, which was an 11% increase, and the current value as of 2024 stands at Rs 5,000 per sq.ft.

Overall, from 2002 to 2024, the guideline value has increased by 959%. There are no revisions with figures missing 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 Jeevan Nagar Main Road is above this median.

• Jeevan Nagar 5th street: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar 4th street: 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 Main Road

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 together to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeevan Nagar Main Road?

The Jeevan Nagar Main Road is covered by 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 details.

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

The guideline value is a crucial factor when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which property transactions must be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Jeevan Nagar Main Road?

The current guideline value of Jeevan Nagar Main Road 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, showing an overall increase of 959% over the years.

What are the stamp duty and registration fees for property in Jeevan Nagar Main Road?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which Sub Registrar Office is responsible for Jeevan Nagar Main Road?

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

What is the land classification for Jeevan Nagar Main Road?

Jeevan Nagar Main Road is classified as Residential Class I Type - I, indicating its designation for residential purposes.