Guideline Value for Jeeva Nagar 2nd Street

Jeeva Nagar 2nd Street guideline value

The current guideline value of Jeeva Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Jeeva Nagar 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 804 per sq.ft in 2017, reflecting a 33% drop. The value saw a significant increase to Rs 1,200 per sq.ft in 2023, followed by a further rise to Rs 1,300 per sq.ft in 2024, which is an 8% increase from the previous year. Notably, there are no figures available for this street in the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 117%. The changes in the guideline value reflect the fluctuations in property valuation over the years, with the most recent adjustment indicating a positive trend in the valuation of Jeeva Nagar 2nd Street.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets that have a 2024 guideline value range from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Jeeva Nagar 2nd Street is below this median.

• Jeeva Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 6th Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 7th Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 8th Street: Rs 1,300 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, calculated at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000. Therefore, the total cost for stamp duty and registration would be Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jeeva Nagar 2nd Street?

The Sub Registrar Office that covers Jeeva Nagar 2nd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for legal and taxation purposes.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction adheres to the regulations set forth by the Registration Department, thereby facilitating a smooth transfer of property ownership.

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 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over this period.

What are the stamp duty and registration fees for property in Jeeva Nagar 2nd Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Which office handles the registration for Jeeva Nagar 2nd Street?

The Royapuram Sub Registrar Office handles the registration for Jeeva Nagar 2nd Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

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

The land classification for Jeeva Nagar 2nd Street is Residential Class II Type - I, indicating its suitability for residential development.