Guideline Value for Leelavathy Nagar Annexe

Leelavathy Nagar Annexe guideline value

The current guideline value of Leelavathy Nagar Annexe is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Chinnapanicheri village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Leelavathy Nagar Annexe has changed

The guideline value for Leelavathy Nagar Annexe has undergone several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a 250% increase. However, this value decreased to Rs 469 per sq.ft in 2017, representing a decline of 33%. The value then rose to Rs 700 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 800 per sq.ft, reflecting a 14% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chinnapanicheri

In Chinnapanicheri, there are 14 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 675 per sq.ft. The guideline value for Leelavathy Nagar Annexe is above this median.

• Leelavathy Nagar: Rs 800 per sq.ft (2024)
• Mari Amman Koil Street: Rs 550 per sq.ft (2024)
• Kothai Avenue: Rs 1,650 per sq.ft (2024)
• Moogambigai Nagar: Rs 800 per sq.ft (2024)
• Muthu Mari Amman Koil Street: Rs 550 per sq.ft (2024)
• Jayaraj Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Leelavathy Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Leelavathy Nagar Annexe?

The Leelavathy Nagar Annexe falls under the jurisdiction of 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 Chinnapanicheri

When buying or selling property in Chinnapanicheri, the guideline value is a critical factor as it determines the amount of stamp duty and registration fees payable during the registration process. The guideline value serves as a benchmark for the transaction value, ensuring that the property is registered at a fair value as per the government regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process. The guideline value is updated periodically, so staying informed about the latest revisions is crucial for all property transactions.

Frequently asked questions

What is the current guideline value of Leelavathy Nagar Annexe?

The current guideline value of Leelavathy Nagar Annexe is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 800 per sq.ft in 2024, showing an overall increase of 300% over the years.

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

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which Sub Registrar Office handles registrations for Leelavathy Nagar Annexe?

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

How is the guideline value determined for property transactions?

The guideline value is determined by the government and is used as a benchmark for property transactions. It is updated periodically to reflect changes in the real estate market and is crucial for calculating stamp duty and registration fees.