Guideline Value for LENIN STREET

Lenin Street guideline value

The current guideline value of Lenin Street in Vengathur village, under the Manavalanagar SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Lenin Street has changed

Looking at the revisions, the guideline value for Lenin Street has seen several changes over the years. In 2007, the value was Rs 125 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. From 2017 to 2023, the value rose by 49% to Rs 600 per sq.ft, and this figure remained unchanged in the 2024 revision.

The revisions for the years 2002 and 2003 do not have any figures listed for Lenin Street in the register. Overall, from 2007 to 2024, the guideline value has increased by 380%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value in the village is Rs 1,000 per sq.ft, placing Lenin Street's 2024 figure below this median.

• Lalbagathur Street: Rs 1,000 per sq.ft (2024)
• Lalbagathur Sasthiri Street (Ondikuppam): Rs 1,300 per sq.ft (2024)
• Maariyappa Reddy Street: Rs 1,300 per sq.ft (2024)
• Kutti Mani Street: Rs 600 per sq.ft (2024)
• Kuruvayur Steet: Rs 600 per sq.ft (2024)
• Kurungi Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Lenin Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Lenin Street?

The Sub Registrar Office covering Lenin Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Vengathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration norms and to calculate the applicable duties and fees accurately.

When a property is sold, the guideline value serves as a reference point for calculating stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Lenin Street?

The current guideline value of Lenin Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and returned to Rs 600 per sq.ft in 2023 and 2024.

What is the land classification for Lenin Street?

Lenin Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Lenin Street?

The Sub Registrar Office for Lenin Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties in Lenin 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 the current guideline value, the total stamp duty would be Rs 42,000.