Guideline Value for Jeeva Street First Lane

Jeeva Street First Lane guideline value

The current guideline value of Jeeva Street First 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 is classified as Residential Class I Type - I.

How the guideline value of Jeeva Street First Lane has changed

The guideline value for Jeeva Street First Lane has undergone several revisions over the years. In 2002, the value was Rs 1,194 per sq.ft, which then decreased to Rs 120 per sq.ft in 2003. Following this, the value saw a significant increase to Rs 400 per sq.ft in 2007, and it further rose to Rs 1,500 per sq.ft in 2012. The 2017 revision set the value at Rs 1,005 per sq.ft, and by 2023, it had increased to Rs 1,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft.

In terms of percentage changes, the value increased by 10% from 2023 to 2024. There was a 49% increase from 2017 to 2023. The value decreased by 33% from 2012 to 2017, while it rose by 275% from 2007 to 2012. The increase from 2003 to 2007 was 233%, and the value dropped by 90% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 38%. There are no figures available for any other years for this street.

Guideline values in Puzhal

Puzhal village has a total of 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 guideline value in this area is Rs 1,102 per sq.ft, and Jeeva Street First Lane's 2024 figure is above that median.

• Jeeva Street 2nd 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 First Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be 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, making the total cost Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeeva Street First Lane?

The Sub Registrar Office that covers Jeeva Street First Lane is the Redhills Sub Registrar Office, 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

The guideline value is a crucial factor when registering property in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties. If the sale price of the property is higher than the guideline value, the stamp duty will be charged on the sale price instead. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jeeva Street First Lane?

The current guideline value of Jeeva Street First 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, reflecting various increases and decreases through the years.

What is the median guideline value in Puzhal?

The median guideline value in Puzhal is Rs 1,102 per sq.ft, with Jeeva Street First Lane's 2024 figure being above this median.

What are the stamp duty and registration fees for property in Jeeva Street First Lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000, resulting in a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000.

Where is the Sub Registrar Office for Jeeva Street First Lane located?

The Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.