Guideline Value for Jeeva Street 2nd Lane

Jeeva Street 2nd Lane guideline value

The current guideline value of Jeeva Street 2nd Lane is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village, under the Redhills SRO, and falls under the Residential Class I Type - I land classification.

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

The guideline value for Jeeva Street 2nd Lane has undergone several revisions over the years. In 2002, the value was Rs 1,194 per sq.ft, which decreased to Rs 120 per sq.ft in 2003. Following this, the value increased significantly to Rs 400 per sq.ft in 2007, and then rose dramatically to Rs 1,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023 before reaching the current value of Rs 1,650 per sq.ft in 2024.

The changes between these revisions reflect various fluctuations: from 2002 to 2003, there was a decrease of 90%. From 2003 to 2007, the value increased by 233%. Between 2007 and 2012, there was a rise of 275%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was an increase of 10% from 2023 to 2024.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, placing Jeeva Street 2nd Lane's 2024 figure above that median.

• Jeeva Street First Lane: Rs 1,650 per sq.ft (2024)
• Jeeva Street: Rs 1,650 per sq.ft (2024)
• Jithesh Avenue: Rs 1,650 per sq.ft (2024)
• Jeeva Main Road: Rs 1,650 per sq.ft (2024)
• Jeeva 3rd Street: Rs 1,650 per sq.ft (2024)
• Jeeva 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Jeeva Street 2nd Lane

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 2nd Lane?

The Sub Registrar Office that covers Jeeva Street 2nd Lane is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

When buying or selling property in Puzhal, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. Therefore, it is essential to consider the guideline value when planning any property transactions in the area.

Frequently asked questions

What is the current guideline value of Jeeva Street 2nd Lane?

The current guideline value of Jeeva Street 2nd Lane is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,194 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with various increases and decreases recorded in between.

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

Jeeva Street 2nd Lane falls under the Residential Class I Type - I land classification.

Where can I find the registration office for Jeeva Street 2nd Lane?

The registration office for Jeeva Street 2nd Lane is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Jeeva Street 2nd Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 16,50,000, leading to a stamp duty of Rs 1,15,500.