Guideline Value for JEREMIAH CITY

Jeremiah City guideline value

The current guideline value of Jeremiah City, located in Devathanam village under the Ponneri SRO, is Rs 111 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - III.

How the guideline value of Jeremiah City has changed

The guideline value for Jeremiah City has undergone several revisions over the years. The earliest recorded figure in the register is from the 2017 revision, which was Rs 74 per sq.ft. This value increased significantly to Rs 111 per sq.ft in both the 2023 and 2024 revisions, marking a 50% increase from 2017 to 2023 and maintaining that value into 2024. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2023 to 2024, there was no change in the guideline value, remaining at Rs 111 per sq.ft. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 50%.

Guideline values in Devathanam

In Devathanam, there are 23 streets under the Ponneri SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 111 per sq.ft. The median guideline value for these streets is Rs 100 per sq.ft, placing the 2024 figure for Jeremiah City above that median.

• J S Nagar: Rs 100 per sq.ft (2024)
• Imayam Nagar: Rs 111 per sq.ft (2024)
• Green City: Rs 100 per sq.ft (2024)
• Karudathiri Nagar: Rs 100 per sq.ft (2024)
• Gandhi Nagar: Rs 100 per sq.ft (2024)
• Kuberaburi Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Jeremiah City

For a 1,000 sq.ft plot at the current guideline value of Rs 111 per sq.ft, the total guideline value amounts to Rs 1,11,000. The stamp duty is charged at 7%, which would be Rs 7,770, and the registration fee at 2% would be Rs 2,220, bringing the total fees to Rs 9,990. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeremiah City?

The Sub Registrar Office that covers Jeremiah City is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Devathanam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling property, the guideline value helps ensure that the transaction is officially recorded and that the appropriate taxes are collected. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Jeremiah City?

The current guideline value of Jeremiah City is Rs 111 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 74 per sq.ft in 2017 to Rs 111 per sq.ft in 2023 and 2024, reflecting a 50% increase overall from 2017 to 2024.

What are the other streets in Devathanam with their guideline values?

Other streets in Devathanam include J S Nagar at Rs 100 per sq.ft, Imayam Nagar at Rs 111 per sq.ft, and several others at Rs 100 per sq.ft. The guideline values for these streets range from Rs 100 to Rs 111 per sq.ft.

What fees are associated with buying property in Jeremiah City?

The fees associated with buying property include stamp duty at 7% and a registration fee at 2% of the guideline value. For example, for a property valued at Rs 1,11,000, the total fees would amount to Rs 9,990.

Where is the Sub Registrar Office for Jeremiah City located?

The Sub Registrar Office for Jeremiah City is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of property transactions in the area.