Guideline Value for Leather City

Leather City guideline value

The current guideline value of Leather City, located in Nalambakkam village, is Rs 900 per sq.ft as per the 2023 revision. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - III.

How the guideline value of Leather City has changed

The guideline value for Leather City has seen several changes over the years. In the 2007 revision, the rate was Rs 120 per sq.ft, which increased significantly to Rs 900 per sq.ft in the 2012 revision, marking a rise of 650%. However, in the 2017 revision, the value decreased to Rs 603 per sq.ft, a drop of 33%. The latest 2023 revision restored the value to Rs 900 per sq.ft, representing an increase of 49% from 2017.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 650%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Nalambakkam

Currently, there are no specific village figures available for Nalambakkam. Leather City is one of the streets under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Leather City

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value would be Rs 9,00,000. The stamp duty at 7% would amount to Rs 63,000, and the registration fee at 2% would be Rs 18,000, bringing the total fees to Rs 81,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Leather City?

The Leather City area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Nalambakkam, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees payable at the time of registration.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration office will assess the property based on the guideline value to determine the applicable fees.

Frequently asked questions

What is the current guideline value of Leather City?

The current guideline value of Leather City is Rs 900 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 900 per sq.ft in 2012, then decreased to Rs 603 per sq.ft in 2017, and finally returned to Rs 900 per sq.ft in 2023.

What are the stamp duty and registration fees for property in Leather City?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 63,000 and the registration fee would be Rs 18,000, making a total of Rs 81,000.

Which office handles registrations for Leather City?

The Gooduvancheri Sub Registrar Office handles registrations for Leather City, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Is there a guideline value for the year 2024?

The register has no figure for the year 2024 for Leather City.