Guideline Value for Jeevanandam Street

Jeevanandam Street guideline value

The current guideline value of Jeevanandam Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Jeevanandam Street has changed

The guideline value for Jeevanandam Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was followed by a decrease to Rs 1,541 per sq.ft in the 2017 revision, reflecting a change of -33%. In the 2023 revision, the value increased to Rs 2,300 per sq.ft, and the latest 2024 revision brought it up to Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Jeevanandam Street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, which aligns with the current guideline value for Jeevanandam Street.

• Jayaparanjothi Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Jayaparanjothi Street: Rs 2,500 per sq.ft (2024)
• Jayaparanjothi Lane: Rs 2,500 per sq.ft (2024)
• Jawahar Street: Rs 2,200 per sq.ft (2024)
• Kailasam Street: Rs 2,500 per sq.ft (2024)
• Jamal Nilayam: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevanandam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeevanandam Street?

The Sub Registrar Office that covers Jeevanandam Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

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

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as per the government's assessment. This process is essential for maintaining transparency and legality in property transactions.

Frequently asked questions

What is the current guideline value of Jeevanandam Street?

The current guideline value of Jeevanandam Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Jeevanandam Street?

Jeevanandam Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Jeevanandam Street?

The Sub Registrar Office for Jeevanandam Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property in Jeevanandam Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft property at the current guideline value, the total fees would amount to Rs 2,25,000.