Guideline Value for Lenin Nagar 16th Cross Street

Lenin Nagar 16th Cross Street guideline value

The current guideline value of Lenin Nagar 16th Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Lenin Nagar 16th Cross Street has changed

The guideline value for Lenin Nagar 16th Cross Street has seen several revisions over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in the 2012 revision. However, this figure dropped to Rs 1,474 per sq.ft in the 2017 revision, marking a decrease of 33%. The 2023 revision brought the value back up to Rs 2,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,400 per sq.ft, reflecting an increase of 9% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 500%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a guideline value for 2024, ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which is equal to the current value of Lenin Nagar 16th Cross Street.

• Lenin Nagar 15th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 17th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 14th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 18th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 13th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 19th Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lenin Nagar 16th 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 be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, leading to a total of 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lenin Nagar 16th Cross Street?

The Sub Registrar Office that covers Lenin Nagar 16th 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.

For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value of a property during registration, ensuring that the property is registered at a fair value according to the current market conditions.

When you buy or sell property, the guideline value affects the stamp duty and registration fees, which are calculated based on this value. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Lenin Nagar 16th Cross Street?

The current guideline value of Lenin Nagar 16th 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 increased from Rs 400 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, marking a total increase of 500% over the years.

What is the land classification for Lenin Nagar 16th Cross Street?

Lenin Nagar 16th Cross Street is classified as Residential Class I Type - I.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Lenin Nagar 16th Cross Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lenin Nagar 16th Cross Street?

The Ambattur Sub Registrar Office covers Lenin Nagar 16th Cross Street and is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.