Guideline Value for Leela Street

Leela Street guideline value

The current guideline value of Leela Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Leela Street has changed

In the 2012 revision, the guideline value was Rs 900 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 603 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 900 per sq.ft in the 2023 revision, and then rose again to Rs 950 per sq.ft in the 2024 revision, reflecting a 6% increase from the previous year. The register has no figures for the revisions in 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has seen a slight increase of 6%. The change from 2017 to 2023 was a notable increase of 49%, while the transition from 2023 to 2024 was a modest rise of 6%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Leela Street's 2024 value below this median.

• Leela Colony: Rs 2,900 per sq.ft (2024)
• Leelavathy Nagar: Rs 2,900 per sq.ft (2024)
• LIC Colony: Rs 2,200 per sq.ft (2024)
• Lalbagadur Sastri Street: Rs 950 per sq.ft (2024)
• Lakshmi Nagar Ext: Rs 3,750 per sq.ft (2024)
• Madambakkam Camp Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Leela Street

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total fees to Rs 85,500. 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 details.

Which Sub Registrar Office covers Leela Street?

Leela Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property registration in Selaiyur. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Leela Street?

The current guideline value of Leela Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 950 per sq.ft in 2024.

What is the land classification for Leela Street?

Leela Street is classified as Residential Class IV Type - II, indicating its suitability for residential development.

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

The Sub Registrar Office covering Leela Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties on Leela Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft property at the current guideline value, the total fees would amount to Rs 85,500.