Guideline Value for JEEVA NAGAR 2ND STREET

Jeeva Nagar 2nd Street guideline value

The current guideline value of Jeeva Nagar 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Jeeva Nagar 2nd Street has changed

Over the years, the guideline value of Jeeva Nagar 2nd Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has set it at Rs 1,650 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

The changes between these revisions are noteworthy. From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a 10% increase, bringing the current guideline value to Rs 1,650 per sq.ft.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Jeeva Nagar 2nd Street.

• JEEVA NAGAR 3rd CROSS STREET: Rs 2,200 per sq.ft (2024)
• JEEVA NAGAR 2nd CROSS STREET: Rs 2,200 per sq.ft (2024)
• Jeeva Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• JEEVA NAGAR 4th CROSS STREET: Rs 2,200 per sq.ft (2024)
• Jeeva Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Jeeva Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jeeva Nagar 2nd 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 fees together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeeva Nagar 2nd Street?

The Sub Registrar Office that covers Jeeva Nagar 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Pallikaranai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that are applicable. This ensures that the fees are based on a standardized value that reflects the market conditions in the area.

It is important for buyers and sellers to be aware of the guideline value, as it can significantly impact the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Jeeva Nagar 2nd Street?

The current guideline value of Jeeva Nagar 2nd 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 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the registration office for Jeeva Nagar 2nd Street?

The registration office for Jeeva Nagar 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Jeeva Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.

What is the land classification for Jeeva Nagar 2nd Street?

The land classification for Jeeva Nagar 2nd Street is Residential Class IV Type - I, which indicates the type of residential development permitted in the area.