Guideline Value for Lenin Nagar 14th Cross Street

Lenin Nagar 14th Cross Street guideline value

The current guideline value for Lenin Nagar 14th 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 14th Cross Street has changed

The guideline value for Lenin Nagar 14th Cross Street has undergone several revisions over the years. In the 2012 revision, the guideline value was Rs 2,200 per sq.ft, which decreased to Rs 1,474 per sq.ft in the 2017 revision. This marked a decline of 33%. However, the value saw a significant increase in the subsequent revisions, rising to Rs 2,200 per sq.ft in 2023 and then to Rs 2,400 per sq.ft in 2024, reflecting a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 9% increase in the guideline value. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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 guideline value for the village is Rs 2,400 per sq.ft, which is equal to the current guideline value of Lenin Nagar 14th Cross Street.

• Lenin Nagar 13th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 15th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 12th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 16th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 11th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 17th Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lenin Nagar 14th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees together to Rs 2,16,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lenin Nagar 14th Cross Street?

The Sub Registrar Office that covers Lenin Nagar 14th 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 is a crucial factor when registering property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the registration process. Buyers and sellers must be aware of these values to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Lenin Nagar 14th Cross Street?

The current guideline value of Lenin Nagar 14th 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, reflecting a 9% increase. It was Rs 1,474 per sq.ft in 2017 and Rs 2,200 per sq.ft in 2012, showing a significant rise over the years.

What are the stamp duty rates for property in Lenin Nagar 14th Cross Street?

The stamp duty for property in Lenin Nagar 14th Cross Street is charged at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000.

Where can I find the Sub Registrar Office for Lenin Nagar 14th Cross Street?

The Sub Registrar Office for Lenin Nagar 14th 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.

What is the land classification for Lenin Nagar 14th Cross Street?

The land classification for Lenin Nagar 14th Cross Street is Residential Class I Type - I, indicating its designation for residential purposes.