Guideline Value for Leelavathi Nagar Avenue

Leelavathi Nagar Avenue guideline value

The current guideline value of Leelavathi Nagar Avenue is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Chikkarayapuram village, under the Kunrathur SRO, and is classified as Mixed Special Type - I.

How the guideline value of Leelavathi Nagar Avenue has changed

The guideline value for Leelavathi Nagar Avenue has seen significant changes over the years. In 2003, the guideline value was Rs 50 per sq.ft, which increased to Rs 300 per sq.ft in 2007. The value then rose dramatically to Rs 1,400 per sq.ft in 2012, but saw a decrease to Rs 938 per sq.ft in 2017. Following this, the value surged to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft from the 2024 revision. Notably, there is no figure available for this street in the 2002 revision.

From 2017 to 2023, the guideline value increased by 92%, while the jump from 2023 to 2024 was 10%. The period from 2007 to 2012 saw a 367% increase, and from 2003 to 2007, the value increased by 500%. Overall, from 2003 to 2024, the guideline value has risen by an impressive 3860%.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median guideline value is Rs 1,980 per sq.ft, which is the same as the guideline value for Leelavathi Nagar Avenue.

• Leelavathi Nagar: Rs 1,980 per sq.ft (2024)
• Leelavathy Nagar Extn: Rs 1,980 per sq.ft (2024)
• Lakshmi Nagar/Vistharippu/Babu Garden: Rs 1,760 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,430 per sq.ft (2024)
• Mahathma Gandhi Nagar: Rs 1,980 per sq.ft (2024)
• Kunrathur Main Road: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Leelavathi Nagar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration would be Rs 1,78,200. Please 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 Leelavathi Nagar Avenue?

The Sub Registrar Office that covers Leelavathi Nagar Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Chikkarayapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Leelavathi Nagar Avenue?

The current guideline value of Leelavathi Nagar Avenue is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 50 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 3860% over this period.

What is the median guideline value in Chikkarayapuram?

The median guideline value in Chikkarayapuram for 2024 is Rs 1,980 per sq.ft, which is the same as the guideline value for Leelavathi Nagar Avenue.

What are the stamp duty and registration fees for properties in Leelavathi Nagar Avenue?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations for Leelavathi Nagar Avenue?

The Kunrathur Sub Registrar Office handles property registrations for Leelavathi Nagar Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.