Guideline Value for Jithesh Avenue

Jithesh Avenue guideline value

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

How the guideline value of Jithesh Avenue has changed

The guideline value for Jithesh Avenue has seen several revisions over the years. In the 2017 revision, the value was Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision. The latest revision in 2024 has set the value at Rs 1,650 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Jithesh Avenue. The changes from 2017 to 2023 reflect a significant increase of 49%, highlighting the upward trend in the guideline value over the years.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values 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, making Jithesh Avenue's 2024 figure of Rs 1,650 per sq.ft above the median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling 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 our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Jithesh Avenue?

The Sub Registrar Office that covers Jithesh Avenue 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jithesh Avenue?

The current guideline value of Jithesh Avenue 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 increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the stamp duty rate for properties in Jithesh Avenue?

The stamp duty rate for properties in Jithesh Avenue is 7%, which is calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for Jithesh Avenue?

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

What are the guideline values of other streets in Puzhal?

Other streets in Puzhal have a guideline value of Rs 1,650 per sq.ft as of 2024, similar to Jithesh Avenue. This indicates a consistent value across several streets in the area.