Guideline Value for Leelavathy Nagar

Leelavathy Nagar guideline value

The current guideline value of Leelavathy Nagar 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 has changed

The guideline value for Leelavathy Nagar 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 the 2012 revision. However, the value saw a decrease of 33% to Rs 469 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 700 per sq.ft, and the most recent 2024 revision has increased it further to Rs 800 per sq.ft, marking a 14% rise from the previous year.

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

Guideline values in Chinnapanicheri

In Chinnapanicheri, there are 14 streets under the Kunrathur SRO with 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 of Leelavathy Nagar is above this median.

• Leelavathy Nagar Annexe: 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

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. 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?

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

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

The guideline value is a crucial factor when buying or selling property in Chinnapanicheri, as it determines the minimum price at which properties can be registered. This value is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the government receives the appropriate taxes based on the property's worth, safeguarding both the buyer and seller in the transaction process.

Frequently asked questions

What is the current guideline value of Leelavathy Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 800 per sq.ft in 2024, marking a total increase of 300% over the years.

What is the land classification of Leelavathy Nagar?

Leelavathy Nagar is classified as Residential Class I Type - I.

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

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 covers this area?

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