Guideline Value for Jeeva Avenue

Jeeva Avenue guideline value

The current guideline value of Jeeva Avenue is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Arasankalani village under the Selaiyur SRO, classified as Mixed Type - II land.

How the guideline value of Jeeva Avenue has changed

The guideline value for Jeeva Avenue has seen several revisions over the years. The oldest recorded revision is from 2017, which set the value at Rs 2,500 per sq.ft. This increased to Rs 3,735 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 has further increased the value to Rs 4,100 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value for these streets is Rs 2,100 per sq.ft, placing Jeeva Avenue's 2024 figure above this median.

• Jeevanandam Street: Rs 1,300 per sq.ft (2024)
• Jansirani Street: Rs 1,300 per sq.ft (2024)
• Iswarya Garden: Rs 1,650 per sq.ft (2024)
• Kakkan Street: Rs 1,300 per sq.ft (2024)
• Kamarajar Street: Rs 2,100 per sq.ft (2024)
• Kamatchi Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jeeva Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, leading to a total of Rs 3,69,000. Please note that 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 further calculations.

Which Sub Registrar Office covers Jeeva Avenue?

The Sub Registrar Office that covers Jeeva Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Arasankalani. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. This ensures that the government receives the appropriate revenue based on the property's assessed value.

When registering a property, buyers must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Jeeva Avenue?

The current guideline value of Jeeva Avenue is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2017 to Rs 3,735 per sq.ft in 2023, and then to Rs 4,100 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the stamp duty rates for properties in Jeeva Avenue?

The stamp duty for properties in Jeeva Avenue is charged at 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 41,00,000, the stamp duty would amount to Rs 2,87,000.

Where is the Sub Registrar Office for Jeeva Avenue located?

The Sub Registrar Office for Jeeva Avenue is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is revised periodically. It reflects the assessed value of properties in a particular area and is used for calculating stamp duty and registration fees during property transactions.