Guideline Value for LEETH CASTLE NORTH STREET

Leeth Castle North Street guideline value

The current guideline value of Leeth Castle North 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 North Street has changed

The guideline value for Leeth Castle North Street has seen several revisions over the years. In 2002, the value was Rs 1,305 per sq.ft, which increased to Rs 1,852 per sq.ft in 2003, marking a 42% rise. The value then rose to Rs 2,365 per sq.ft in 2007, reflecting a 28% increase. The next revision in 2012 saw a decrease to Rs 10,500 per sq.ft, which was a significant drop of 33%. However, in 2017, the value rebounded to Rs 7,035 per sq.ft, showing a 49% increase. The guideline value further increased to Rs 10,500 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 11,500 per sq.ft, representing a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in the years not listed in the register for this street.

Guideline values in Mylapore

The guideline values in Mylapore show a range from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The current guideline value of Leeth Castle North Street is above this median, indicating its relatively higher valuation.

• Leeth Castle Central Street: Rs 11,500 per sq.ft (2024)
• Leeth Castle South Street: Rs 11,500 per sq.ft (2024)
• Leeth Castle 2nd Cross Street: Rs 11,500 per sq.ft (2024)
• Leeth Castle 1st Cross 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 North 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% would be Rs 2,30,000, bringing the total fees to Rs 10,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Leeth Castle North Street?

The Sub Registrar Office that covers Leeth Castle North Street is the Mylapore Sub Registrar Office, 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 is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the buyer and seller must consider the guideline value to determine the appropriate fees. This ensures transparency and compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Leeth Castle North Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,305 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, showing an overall increase of 781% over the years.

What is the land classification for Leeth Castle North Street?

Leeth Castle North Street is classified as Residential Class II Type - III.

What are the stamp duty rates for property in Leeth Castle North Street?

The stamp duty for property in Leeth Castle North Street is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Leeth Castle North Street located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.