Guideline Value for Jeevan Nagar

Jeevan Nagar guideline value

The current guideline value of Jeevan Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024. This area is located in Moulivakkam village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Jeevan Nagar has changed

The guideline value for Jeevan Nagar has seen several revisions over the years. In 2003, the value was Rs 140 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following this, the value surged significantly to Rs 2,200 per sq.ft in 2012, before dropping to Rs 1,474 per sq.ft in 2017. The value then rose to Rs 2,200 per sq.ft in 2023, and most recently, it has reached Rs 2,450 per sq.ft in 2024.

Notably, the changes between revisions have varied. From 2003 to 2007, the increase was +257%. However, from 2012 to 2017, there was a decrease of -33%. The most significant increase occurred between 2017 and 2023 at +49%, followed by an increase of +11% from 2023 to 2024.

Guideline values in Moulivakkam

In Moulivakkam, there are 44 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,000 to Rs 3,900 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value for Jeevan Nagar aligns with this median.

• Jothi Nagar: Rs 2,450 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 2,450 per sq.ft (2024)
• Kamakshi / Rajalingam Nagar: Rs 2,450 per sq.ft (2024)
• Govindaraj Nagar: Rs 2,450 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 2,450 per sq.ft (2024)
• Kavari Nagar: Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,450 per sq.ft, the total guideline value amounts to Rs 24,50,000. The stamp duty at 7% would be Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, bringing the total fees to Rs 2,20,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jeevan Nagar?

The Sub Registrar Office that covers Jeevan Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Moulivakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jeevan Nagar?

The current guideline value of Jeevan Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 140 per sq.ft in 2003 to Rs 2,450 per sq.ft in 2024, with various increases and decreases in between.

What is the classification of land in Jeevan Nagar?

The land in Jeevan Nagar is classified as Residential Special Type - I, which affects its guideline value.

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

The Sub Registrar Office for Jeevan Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.

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, a property valued at Rs 24,50,000 would incur specific fees based on this amount.