Guideline Value for Leelavathi Nagar

Leelavathi Nagar guideline value

The current guideline value of Leelavathi Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Baraniputjur village, under the jurisdiction of the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Leelavathi Nagar has changed

The guideline value for Leelavathi Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in 2012. However, it dropped to Rs 737 per sq.ft in 2017, before rising to Rs 1,100 per sq.ft again in 2023. The latest revision in 2024 set the guideline value at Rs 1,210 per sq.ft.

Notable changes between the revisions include a remarkable increase of 340% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023 and increased by 10% from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 384%. The register has no figures for the years 2002 and 2003.

Guideline values in Baraniputjur

In Baraniputjur, there are 39 streets that carry a 2024 guideline value, ranging from Rs 700 to Rs 2,500 per sq.ft, with the median value being Rs 1,210 per sq.ft. The guideline value for Leelavathi Nagar aligns with this median.

• Lakshmi Nagar: Rs 1,210 per sq.ft (2024)
• Mangadu - Moulivakkam Main Road: Rs 1,450 per sq.ft (2024)
• Mgk Vel Anenue: Rs 1,430 per sq.ft (2024)
• Karuna Nidhi Street: Rs 1,210 per sq.ft (2024)
• Karthik Avenue: Rs 1,450 per sq.ft (2024)
• Jothi Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Leelavathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, while the registration fee at 2% would be Rs 24,200, leading to a total cost of Rs 1,08,900. 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 Leelavathi Nagar?

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

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

The guideline value is a crucial factor when registering properties in Baraniputjur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during property transactions.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Leelavathi Nagar?

The current guideline value of Leelavathi Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, showing an overall increase of 384% over the years.

What are the stamp duty rates for properties in Leelavathi Nagar?

The stamp duty rate for properties in Leelavathi Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Leelavathi Nagar?

The Sub Registrar Office for Leelavathi Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Leelavathi Nagar?

Leelavathi Nagar is classified as Residential Special Type - II, which is important for understanding its zoning and usage regulations.