Guideline Value for JEEVA STREET

Jeeva Street guideline value

The current guideline value of Jeeva Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Jeeva Street has changed

Over the years, the guideline value of Jeeva Street has seen significant changes. In the 2002 revision, the value was Rs 705 per sq.ft, which increased to Rs 883 per sq.ft in 2003, marking a 25% rise. The value then saw a slight decrease to Rs 800 per sq.ft in 2007, followed by a substantial increase to Rs 4,000 per sq.ft in 2012, representing a 400% increase. However, from 2012 to 2017, the value decreased by 33% to Rs 2,680 per sq.ft. The 2023 revision saw a rise to Rs 4,000 per sq.ft, and the latest 2024 revision has increased it to Rs 4,400 per sq.ft, reflecting a 10% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 524%. The register has no figures for the years not mentioned.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Jeeva Street.

• Jones Road: Rs 8,250 per sq.ft (2024)
• Jayaram Chetty Street: Rs 5,500 per sq.ft (2024)
• Kaleeswarar Koil Street: Rs 4,950 per sq.ft (2024)
• Kamarajar Street: Rs 4,400 per sq.ft (2024)
• Ilaiyalvar Koil Street: Rs 4,400 per sq.ft (2024)
• Hospital Road 2nd Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jeeva Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost would be Rs 3,96,000. 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 Jeeva Street?

The Sub Registrar Office that covers Jeeva Street is the Chennai South Joint II 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Saidapet. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value helps ensure that the transaction is recorded at a fair value, reflecting the local market conditions.

When you buy or sell property in Saidapet, the guideline value will be used to determine the applicable taxes. It is essential to be aware of the current guideline value to ensure compliance with local regulations and avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value of Jeeva Street?

The current guideline value of Jeeva 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 705 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 524%.

What is the classification of land on Jeeva Street?

Jeeva Street is classified as Residential Class II Type - II under the Chennai South Joint II SRO.

What are the stamp duty rates for property in Jeeva Street?

The stamp duty rate for property transactions in Jeeva Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Jeeva Street located?

The Sub Registrar Office for Jeeva Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.