Guideline Value for Jeevanandam StreetS.No. 55 & 394/2

Jeevanandam StreetS.No. 55 & 394/2 guideline value

The current guideline value of Jeevanandam StreetS.No. 55 & 394/2 is Rs 3,300 per sq.ft. This property is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Jeevanandam StreetS.No. 55 & 394/2 has changed

The guideline value for Jeevanandam StreetS.No. 55 & 394/2 has undergone several revisions over the years. The earliest recorded value was Rs 1,210 per sq.ft in 2007, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it saw a decrease to Rs 2,010 per sq.ft in 2017 before rising to Rs 3,000 per sq.ft again in 2023. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 173%. The changes between revisions include a 148% rise from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Jeevanandam StreetS.No. 55 & 394/2 is below this median.

• Jeevanandham (Cross) Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Jeevanandham Street Ch-78: Rs 6,000 per sq.ft (2024)
• Jeevanandam Salai (Sivalingapuram): Rs 6,000 per sq.ft (2024)
• Jeevanandam Salai Ch-78: Rs 6,000 per sq.ft (2024)
• Jeevarathinam Nagar Block 85: Rs 4,100 per sq.ft (2024)
• Jayaram Pillai Street (JPT): Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevanandam StreetS.No. 55 & 394/2

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Jeevanandam StreetS.No. 55 & 394/2?

The Sub Registrar Office that covers Jeevanandam StreetS.No. 55 & 394/2 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

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 appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Jeevanandam StreetS.No. 55 & 394/2?

The current guideline value for Jeevanandam StreetS.No. 55 & 394/2 is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 173% over the years.

What is the land classification for this property?

The land classification for Jeevanandam StreetS.No. 55 & 394/2 is Residential Class IV Type - II.

Where is the Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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 with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.