Guideline Value for Jeevanandam Street

Jeevanandam Street guideline value

The current guideline value of Jeevanandam Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Jeevanandam Street has changed

The guideline value for Jeevanandam Street has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,005 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 1,500 per sq.ft, which then increased by 10% to Rs 1,650 per sq.ft in 2024.

Overall, from 2007 to 2024, the guideline value has increased by 313%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which aligns with the current guideline value of Jeevanandam Street.

• Jeevarathinam Street: Rs 1,320 per sq.ft (2024)
• Jawharlal Nagar: Rs 3,300 per sq.ft (2024)
• Jawaharlal Nagar Annex: Rs 2,200 per sq.ft (2024)
• Jawaharlal Nagar: Rs 3,300 per sq.ft (2024)
• Kaalvai Street: Rs 1,320 per sq.ft (2024)
• Kalaivanar Street: Rs 1,320 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 details.

Which Sub Registrar Office covers Jeevanandam Street?

The Sub Registrar Office that covers Jeevanandam Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property in Naravarikuppam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value according to the prevailing rates set by the government.

When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jeevanandam Street?

The current guideline value of Jeevanandam Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 313% over the years.

What is the median guideline value in Naravarikuppam?

The median guideline value in Naravarikuppam is Rs 1,650 per sq.ft, which is the same as the current guideline value for Jeevanandam Street.

What are the stamp duty and registration fees for a property in Jeevanandam Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations for Jeevanandam Street?

The Redhills Sub Registrar Office handles property registrations for Jeevanandam Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.