Guideline Value for Jeeva Street

Jeeva Street guideline value

The current guideline value of Jeeva Street in Puzhal village, under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Jeeva Street has changed

The guideline value for Jeeva Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,264 per sq.ft. This figure changed to Rs 180 per sq.ft in 2003, marking a decrease of 86%. From 2003 to 2007, the value increased significantly to Rs 400 per sq.ft, a rise of 122%. In 2007, the value further increased to Rs 1,500 per sq.ft in 2012, which was a remarkable increase of 275%. However, from 2012 to 2017, the value dropped to Rs 1,005 per sq.ft, a decline of 33%. The guideline value then rose to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value for Jeeva Street has increased by 31%. There are no figures available for the years not mentioned in the register 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, with a median value of Rs 1,102 per sq.ft. The guideline value of Rs 1,650 per sq.ft for Jeeva Street is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, 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 cost together to 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jeeva Street?

The Sub Registrar Office covering 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 information.

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

The guideline value is a crucial factor when registering property transactions in Puzhal. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both parties. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jeeva Street?

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

How has the guideline value of Jeeva Street changed over the years?

The guideline value has changed from Rs 1,264 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 31% over this period.

What is the land classification of Jeeva Street?

Jeeva Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost amounts to Rs 1,48,500.

Which office handles registrations for Jeeva Street?

The Redhills Sub Registrar Office handles registrations for Jeeva Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.