Guideline Value for Jeeva Nagar 7th Street

Jeeva Nagar 7th Street guideline value

The current guideline value of Jeeva Nagar 7th Street is Rs 1,300 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Jeeva Nagar 7th Street has changed

The guideline value for Jeeva Nagar 7th Street has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value rose significantly to Rs 1,200 per sq.ft in 2023, before reaching the current value of Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging 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 for Jeeva Nagar 7th Street is below this median.

• Jeeva Nagar 6th Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 8th Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 9th Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar Ist street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 4th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jeeva Nagar 7th Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 Nagar 7th Street?

The Sub Registrar Office that covers Jeeva Nagar 7th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property registration in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the stamp duty, ensuring that the appropriate fees are collected based on the property's value.

Frequently asked questions

What is the current guideline value of Jeeva Nagar 7th Street?

The current guideline value of Jeeva Nagar 7th 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 is the land classification for Jeeva Nagar 7th Street?

Jeeva Nagar 7th Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

What is the stamp duty rate for property in Jeeva Nagar 7th Street?

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

Where is the Sub Registrar Office for Jeeva Nagar 7th Street located?

The Sub Registrar Office for Jeeva Nagar 7th Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.