Guideline Value for Leelavathy Nagar Extn

Leelavathy Nagar Extn guideline value

The current guideline value of Leelavathy Nagar Extn is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Chikkarayapuram village, under the Kunrathur SRO. The land classification for this street is Mixed Special Type - I.

How the guideline value of Leelavathy Nagar Extn has changed

Over the years, the guideline value for Leelavathy Nagar Extn has seen significant changes. Starting from the 2003 revision, the guideline value was Rs 50 per sq.ft. It increased to Rs 300 per sq.ft in 2007, marking a substantial growth of 500%. The value then rose to Rs 1,400 per sq.ft in 2012, reflecting a 367% increase. However, it decreased to Rs 938 per sq.ft in 2017, showing a decline of 33%. The next revision in 2023 saw a considerable increase to Rs 1,800 per sq.ft, which was a rise of 92%. Finally, the current 2024 revision sets the guideline value at Rs 1,980 per sq.ft, an increase of 10% from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 3860%.

Guideline values in Chikkarayapuram

In Chikkarayapuram village, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, which is equal to the guideline value of Leelavathy Nagar Extn.

• Leelavathy Nagar Avenue: Rs 1,980 per sq.ft (2024)
• Leelavathy Nagar: 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 Leelavathy Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total cost for stamp duty and registration fees Rs 1,78,200. 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 information.

Which Sub Registrar Office covers Leelavathy Nagar Extn?

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

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

The guideline value plays a crucial role when buying or selling property in Chikkarayapuram. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that the transaction is fairly assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Leelavathy Nagar Extn?

The current guideline value of Leelavathy Nagar Extn 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, marking an overall increase of 3860%.

What is the land classification for Leelavathy Nagar Extn?

The land classification for Leelavathy Nagar Extn is Mixed Special Type - I.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 19,80,000, with stamp duty at Rs 1,38,600 and registration fees at Rs 39,600, totaling Rs 1,78,200.

Where is the Kunrathur Sub Registrar Office located?

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