Guideline Value for Jeeva Street

Jeeva Street guideline value

The current guideline value of Jeeva Street in Padiyanallur village, under the Redhills SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Jeeva Street has changed

The guideline value for Jeeva Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 223 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007. The 2012 revision saw a rise to Rs 1,200 per sq.ft, but this was followed by a decrease to Rs 804 per sq.ft in 2017. The subsequent 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has set it at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 492%. The register has no figure for the year 2002 for this street.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Jeeva Street is above this median.

• Jothi Nagar: Rs 1,320 per sq.ft (2024)
• Kaavya Garden Annex: Rs 660 per sq.ft (2024)
• Kakkanji Street: Rs 770 per sq.ft (2024)
• Kalaivanar Street: Rs 770 per sq.ft (2024)
• Kalanchinathan Street: Rs 660 per sq.ft (2024)
• Kalpaga Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Jeeva Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these charges to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeeva Street?

The Sub Registrar Office that covers Jeeva Street 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Padiyanallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value, as it influences the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Jeeva Street?

The current guideline value of Jeeva Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 223 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 492% over this period.

What is the land classification of Jeeva Street?

Jeeva Street is classified as Residential Special Type - I.

Where is the Redhills Sub Registrar Office located?

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

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

Stamp duty for properties in Jeeva Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 92,400 based on the current guideline value.