Guideline Value for P. Jeevanandam Street

P. Jeevanandam Street guideline value

The current guideline value of P. 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, classified as Residential Class III Type - I.

How the guideline value of P. Jeevanandam Street has changed

The guideline value of P. Jeevanandam Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value saw a significant increase to Rs 2,300 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which aligns with the guideline value of P. Jeevanandam Street.

• Poondi Madha Street: Rs 2,500 per sq.ft (2024)
• Pugalendhi Street (Krishnamoorthy Nagar): Rs 2,500 per sq.ft (2024)
• Pugalendhi Street (Vivekananda Nagar): Rs 2,500 per sq.ft (2024)
• Pugalendi Street: Rs 2,500 per sq.ft (2024)
• Punitha Androse Street: Rs 2,500 per sq.ft (2024)
• Parthasarathy Reddy Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in P. 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, making the total fees Rs 2,25,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers P. Jeevanandam Street?

P. Jeevanandam Street falls under 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 critical factor in the registration process for property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted at fair values.

When buying or selling property, it is essential to consider the guideline value as it affects the stamp duty and registration fees applicable to the transaction. Buyers should be aware that the duty is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of P. Jeevanandam Street?

The current guideline value of P. 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 2023 to Rs 2,500 per sq.ft in 2024, marking a 9% increase. It was Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012.

What is the land classification of P. Jeevanandam Street?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Where is the Madhavaram Sub Registrar Office located?

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