Guideline Value for Jeeva Street

Jeeva Street guideline value

The current guideline value of Jeeva Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Jeeva Street has changed

The guideline value for Jeeva Street has undergone several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 900 per sq.ft in 2012. However, there was a decrease to Rs 603 per sq.ft in the 2017 revision. Following this, the value saw a significant rise to Rs 900 per sq.ft in 2023, and it has now reached Rs 950 per sq.ft in the 2024 revision. Notably, the register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a 49% increase, and from 2023 to 2024, the value rose by 6%. Overall, from 2007 to 2024, the guideline value has increased by 58%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Jeeva Street is below this median.

• Jegajeevanram Colony 1st Main Road: Rs 950 per sq.ft (2024)
• Jegajeevanram Colony 2nd Main Road: Rs 950 per sq.ft (2024)
• Jain Avenue: Rs 2,400 per sq.ft (2024)
• Jagajeevanram Nagar: Rs 2,200 per sq.ft (2024)
• Jagageevanram Street: Rs 2,200 per sq.ft (2024)
• Jagageevanram Colony: Rs 2,200 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 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total fees to Rs 85,500. 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?

The Sub Registrar Office that covers Jeeva Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable duties and fees. It is essential to ensure that the sale price is not lower than the guideline value to avoid any legal issues 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 950 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 950 per sq.ft in 2024, with various revisions in between, including a decrease in 2017.

What is the land classification of Jeeva Street?

Jeeva Street is classified as Residential Class IV Type - II.

Where is the Sub Registrar Office for Jeeva Street located?

The Sub Registrar Office for Jeeva Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Jeeva Street?

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 at Rs 950 per sq.ft, the total guideline value is Rs 9,50,000, leading to a stamp duty of Rs 66,500.