Guideline Value for Jeevan Prekash Nagar

Jeevan Prekash Nagar guideline value

The current guideline value of Jeevan Prekash Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Chennerkuppam village and falls under the Kunrathur SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Jeevan Prekash Nagar has changed

Over the years, the guideline value of Jeevan Prekash Nagar has seen significant changes. The 2007 revision recorded a value of Rs 500 per sq.ft, which increased to Rs 1,300 per sq.ft in 2012. However, there was a decrease to Rs 871 per sq.ft in the 2017 revision. The value then rose sharply to Rs 1,300 per sq.ft in 2023, and currently stands at Rs 1,430 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the increase from 2023 to 2024 is 10%. Notably, the overall increase from 2007 to 2024 is 186%, reflecting substantial growth in the guideline value over the years.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft, with a median value of Rs 1,540 per sq.ft. The guideline value for Jeevan Prekash Nagar is below this median.

• J.D. Nagar: Rs 1,540 per sq.ft (2024)
• Jayasali Nagar: Rs 1,430 per sq.ft (2024)
• Kamarajar Veethi: Rs 1,100 per sq.ft (2024)
• Gangai Amman Nagar: Rs 1,430 per sq.ft (2024)
• D.R.R. Nagar: Rs 1,100 per sq.ft (2024)
• Kuppuswamy Nagar: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevan Prekash Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total charges to Rs 1,28,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jeevan Prekash Nagar?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chennerkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

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, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Jeevan Prekash Nagar?

The current guideline value of Jeevan Prekash Nagar is Rs 1,430 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 500 per sq.ft in 2007 to Rs 1,430 per sq.ft in 2024, marking an overall increase of 186% over the years.

What is the land classification for Jeevan Prekash Nagar?

The land classification for Jeevan Prekash Nagar is Residential Class I Type - III.

Where can I find the Kunrathur Sub Registrar Office?

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

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is typically charged at a rate of 7% for stamp duty and 2% for the registration fee.