Guideline Value for Jeevanandham Street

Jeevanandham Street guideline value

The current guideline value of Jeevanandham Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Jeevanandham Street has changed

The guideline value for Jeevanandham Street has seen several revisions over the years. Starting from Rs 485 per sq.ft in 2002, it increased to Rs 537 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,100 per sq.ft in 2007, a change of 105%. Following this, the value surged to Rs 4,000 per sq.ft in 2012, reflecting a substantial increase of 264%. However, it then dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value climbed to Rs 4,000 per sq.ft again in 2023, with a notable increase of 49%, before reaching the current figure of Rs 4,400 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 807% in the guideline value.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 figure, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Jeevanandham Street.

• Jayalakshmi Street: Rs 3,850 per sq.ft (2024)
• Javahar Street: Rs 3,850 per sq.ft (2024)
• Jaibalaji Nagar: Rs 2,750 per sq.ft (2024)
• Kaliamman Koil Street: Rs 7,700 per sq.ft (2024)
• INDIRA NAGAR 6th Cross Street: Rs 2,750 per sq.ft (2024)
• INDIRA NAGAR 5th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevanandham Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jeevanandham Street?

The Sub Registrar Office that covers Jeevanandham Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When you proceed with a sale or purchase, the guideline value ensures that the transaction is recorded accurately, reflecting the property's value as determined by the local authorities. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Jeevanandham Street?

The current guideline value of Jeevanandham Street is Rs 4,400 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 485 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, with various increases and decreases noted in the intervening years.

What is the land classification for Jeevanandham Street?

Jeevanandham Street is classified as Residential Class III Type - I, indicating its designated use for residential purposes.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Jeevanandham Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.