Guideline Value for LEETH CASTLE CENTRAL STREET

Leeth Castle Central Street guideline value

The current guideline value of Leeth Castle Central Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO and is classified as Residential Class II Type - III.

How the guideline value of Leeth Castle Central Street has changed

The guideline value for Leeth Castle Central Street has seen significant revisions over the years. Starting from Rs 1,305 per sq.ft in 2002, it increased to Rs 1,852 per sq.ft in 2003, marking a change of +42%. By 2007, the value surged to Rs 3,201 per sq.ft, reflecting a remarkable increase of +73%. The 2012 revision held the value steady at Rs 10,500 per sq.ft, which remained unchanged until the 2023 revision.

In 2023, the guideline value was revised to Rs 10,500 per sq.ft, and then increased by +10% to reach Rs 11,500 per sq.ft in 2024. Notably, there was no figure recorded for the street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has risen by +781%.

Guideline values in Mylapore

The guideline values for properties in Mylapore vary significantly, with figures ranging from Rs 3,300 to Rs 25,800 per sq.ft as of 2024. The median value in Mylapore is Rs 8,800 per sq.ft, placing Leeth Castle Central Street's value above this median.

• Leeth Castle 2nd Cross Street: Rs 11,500 per sq.ft (2024)
• Leeth Castle North Street: Rs 11,500 per sq.ft (2024)
• Leeth Castle 1st Cross Street: Rs 11,500 per sq.ft (2024)
• Leeth Castle South Street: Rs 11,500 per sq.ft (2024)
• Leen Perira Street: Rs 8,200 per sq.ft (2024)
• Leonard Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Leeth Castle Central Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value amounts to Rs 1,15,00,000. The stamp duty at 7% would be Rs 8,05,000, and the registration fee at 2% amounts to Rs 2,30,000, totaling Rs 10,35,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Leeth Castle Central Street?

The Mylapore Sub Registrar Office covers Leeth Castle Central Street. The office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Mylapore, as it is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must ensure that the property is registered at the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, which helps in maintaining transparency in property dealings. It is essential for both parties 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 Leeth Castle Central Street?

The current guideline value of Leeth Castle Central Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, rising from Rs 1,305 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, marking an overall increase of +781% over this period.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 and the registration fee would be Rs 2,30,000, totaling Rs 10,35,000.

Which office handles the registration for Leeth Castle Central Street?

The Mylapore Sub Registrar Office handles the registration for Leeth Castle Central Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Leeth Castle Central Street?

Leeth Castle Central Street is classified as Residential Class II Type - III, which indicates its designation for residential purposes within the Mylapore village.