Guideline Value for Leelavathi Nagar

Leelavathi Nagar guideline value

The current guideline value of Leelavathi Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Chennerkuppam village under the Kunrathur SRO, classified as Residential Class I Type - III.

How the guideline value of Leelavathi Nagar has changed

The guideline value for Leelavathi Nagar has seen several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased to Rs 1,300 per sq.ft in 2012, marking a significant rise of 189%. However, it then decreased to Rs 871 per sq.ft in 2017, representing a decline of 33%. The value rose again to Rs 1,300 per sq.ft in 2023, before reaching the current rate of Rs 1,430 per sq.ft in 2024, a change of 10% from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 218%.

Guideline values in Chennerkuppam

Chennerkuppam has a total of 74 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median guideline value in this village is Rs 1,540 per sq.ft, which means that Leelavathi Nagar's current value is below this median.

• Magizam Avenue: Rs 1,430 per sq.ft (2024)
• Kuppuswamy Nagar: Rs 1,540 per sq.ft (2024)
• Mariamman koil Street: Rs 1,540 per sq.ft (2024)
• Masilamani Nagar: Rs 1,320 per sq.ft (2024)
• Mettu Street: Rs 1,320 per sq.ft (2024)
• M.M. Koil Street (a) Mariamman Koil Street: Rs 1,540 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 1,430 per sq.ft, the total guideline value would be Rs 14,30,000. The stamp duty, charged at 7%, would amount to Rs 1,00,100, while the registration fee at 2% would be Rs 28,600. Therefore, the total cost for stamp duty and registration would be Rs 1,28,700. It is important to note that 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 precise calculations based on your property 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 more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Chennerkuppam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions, protecting both buyers and sellers.

Frequently asked questions

What is the current guideline value of Leelavathi Nagar?

The current guideline value of Leelavathi Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,430 per sq.ft in 2024, reflecting an overall increase of 218% over the years.

What is the median guideline value in Chennerkuppam?

The median guideline value in Chennerkuppam is Rs 1,540 per sq.ft, indicating that Leelavathi Nagar's current value is below this median.

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

The stamp duty for a property valued at Rs 14,30,000 would be Rs 1,00,100, while the registration fee would be Rs 28,600, totaling Rs 1,28,700 for a 1,000 sq.ft plot.

Which office handles property registrations for Leelavathi Nagar?

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