Guideline Value for LEELA NAGAR

Leela Nagar guideline value

The current guideline value of Leela Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Asuoor village under the Walajabad SRO and is classified as Residential Special Type - II.

How the guideline value of Leela Nagar has changed

The guideline value for Leela Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 150 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 100 per sq.ft, marking a 33% drop. However, from 2017 to 2023, the value increased by 50% back to Rs 150 per sq.ft. The 2024 revision has maintained this value at Rs 150 per sq.ft, reflecting no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only revisions available are from 2012, 2017, 2023, and the current 2024 figures.

Guideline values in Asuoor

In Asuoor, there are five streets under the Walajabad SRO that have a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft. The median value for these streets is Rs 100 per sq.ft, making Leela Nagar's 2024 value above that median.

• Sukibhava City: Rs 100 per sq.ft (2024)
• Vignesh Nagar: Rs 100 per sq.ft (2024)
• Aarthi Nagar: Rs 100 per sq.ft (2024)
• Santha Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Leela Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Leela Nagar?

The Sub Registrar Office that covers Leela Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

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

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential to consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Leela Nagar?

The current guideline value of Leela Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 150 per sq.ft in 2024, unchanged from 2023. The value was Rs 100 per sq.ft in 2017 and Rs 150 per sq.ft in 2012.

What are the other streets in Asuoor with their guideline values?

Other streets in Asuoor include Sukibhava City and Vignesh Nagar at Rs 100 per sq.ft, Aarthi Nagar at Rs 100 per sq.ft, and Santha Nagar at Rs 150 per sq.ft in 2024.

How is the stamp duty calculated for property in Leela Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 10,500 based on the current guideline value.

Where can I find the Sub Registrar Office for Leela Nagar?

The Sub Registrar Office for Leela Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.