Guideline Value for LEO AVENUE

Leo Avenue guideline value

The current guideline value of Leo Avenue in Agaramthen village is Rs 2,860 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Mixed Special Type - III.

How the guideline value of Leo Avenue has changed

There have been several revisions to the guideline value for Leo Avenue over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that the guideline value was Rs 2,600 per sq.ft in 2023, which increased by 10% to Rs 2,860 per sq.ft in 2024.

This change reflects the ongoing adjustments in property valuations in the area. The increase from 2023 to 2024 indicates a significant rise in the guideline value, aligning with the broader trends in the Agaramthen village.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value for the village is Rs 830 per sq.ft, placing Leo Avenue's current value above this median.

• Lakshmi Nagar Phase - III: Rs 2,970 per sq.ft (2024)
• Lakshmi Nagar Phase - II: Rs 2,970 per sq.ft (2024)
• Lakshmi Nagar Phase-4: Rs 2,970 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,970 per sq.ft (2024)
• Madhura Nagar: Rs 550 per sq.ft (2024)
• Kurunji Nagar 4th Street 1st And 5th Cross Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Leo Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, while the registration fee at 2% would be Rs 57,200, bringing the total to Rs 2,57,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Leo Avenue?

The Sub Registrar Office that covers Leo Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Agaramthen. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with local regulations. This value helps in establishing a fair assessment for taxation purposes during the registration process.

Frequently asked questions

What is the current guideline value of Leo Avenue?

The current guideline value of Leo Avenue is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Leo Avenue has seen an increase from Rs 2,600 per sq.ft in 2023 to Rs 2,860 per sq.ft in 2024, reflecting a 10% rise. There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Agaramthen?

In Agaramthen, the guideline values for other streets range from Rs 440 to Rs 3,700 per sq.ft, with a median of Rs 830 per sq.ft. Leo Avenue's value of Rs 2,860 per sq.ft is above this median.

What are the stamp duty and registration fees for property in Leo Avenue?

The stamp duty for a property valued at Rs 28,60,000 would be Rs 2,00,200, and the registration fee would be Rs 57,200, totaling Rs 2,57,400. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Leo Avenue located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. This office handles all registrations for properties in the area.