Guideline Value for Lenin Garden

Lenin Garden guideline value

The current guideline value of Lenin Garden, located in Manimangalam A village under the Padappai SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Lenin Garden has changed

The guideline value for Lenin Garden has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 536 per sq.ft. This increased to Rs 800 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft, with the median value being Rs 880 per sq.ft. The guideline value of Lenin Garden is equal to this median.

• Lenin Nagar Phase I: Rs 880 per sq.ft (2024)
• Mada Veethi ( East, West, North and South ): Rs 880 per sq.ft (2024)
• Lakshmi Nagar Extn: Rs 770 per sq.ft (2024)
• Lakshmi Nagar: Rs 770 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 880 per sq.ft (2024)
• Lakshmi Garden Extension: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Lenin Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty, charged at 7%, would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. 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 details.

Which Sub Registrar Office covers Lenin Garden?

The Sub Registrar Office that covers Lenin Garden is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manimangalam A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the property's value as per government standards. This process aids in maintaining transparency and consistency in real estate transactions.

Frequently asked questions

What is the current guideline value of Lenin Garden?

The current guideline value of Lenin Garden is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, showing an overall increase of 64%.

What are the stamp duty and registration fees for a property in Lenin Garden?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office should I approach for property registration in Lenin Garden?

The Padappai Sub Registrar Office is responsible for property registration in Lenin Garden. It is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

Are there other streets with the same guideline value in Manimangalam A?

Yes, other streets in Manimangalam A, such as Lenin Nagar Phase I, Mada Veethi, Mahalakshmi Nagar, and Lakshmi Garden Extension, also have a guideline value of Rs 880 per sq.ft in 2024.