Guideline Value for Lenin Nagar 11th Cross Street

Lenin Nagar 11th Cross Street guideline value

The current guideline value of Lenin Nagar 11th Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Lenin Nagar 11th Cross Street has changed

The guideline value for Lenin Nagar 11th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then decreased to Rs 1,474 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, the value rebounded to Rs 2,200 per sq.ft in the 2023 revision, marking a 49% increase from the 2017 figure. The current guideline value, effective from 1 July 2024, is Rs 2,400 per sq.ft, reflecting a 9% increase from the 2023 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which is the same as the guideline value for Lenin Nagar 11th Cross Street.

• Lenin Nagar 10th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 12th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 13th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 14th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 15th Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lenin Nagar 11th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Lenin Nagar 11th Cross Street?

The Sub Registrar Office that covers Lenin Nagar 11th Cross Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumullaivoyal. 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 buyer is required to pay stamp duty based on the higher amount between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Lenin Nagar 11th Cross Street?

The current guideline value of Lenin Nagar 11th Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024, marking a 9% increase. It was Rs 1,474 per sq.ft in 2017, showing a 49% increase from that figure to 2023.

What is the land classification for Lenin Nagar 11th Cross Street?

Lenin Nagar 11th Cross Street is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total cost would be Rs 2,16,000.

Which office handles the registration for Lenin Nagar 11th Cross Street?

The Ambattur Sub Registrar Office is responsible for handling registrations for Lenin Nagar 11th Cross Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.