Guideline Value for Lenin Nagar 17th Cross Street

Lenin Nagar 17th Cross Street guideline value

The current guideline value of Lenin Nagar 17th 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, and it falls under Residential Class I Type - I land classification.

How the guideline value of Lenin Nagar 17th Cross Street has changed

The guideline value for Lenin Nagar 17th Cross Street has undergone several revisions over the years. The earliest recorded value was Rs 400 per sq.ft in 2007. This increased significantly to Rs 2,200 per sq.ft in 2012, marking a substantial rise of 450%. However, in 2017, the value decreased to Rs 1,474 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 2,400 per sq.ft, which is an increase of 63% from the 2017 figure.

It is important to note that there are no recorded figures for Lenin Nagar 17th Cross Street in the years 2023, 2003, and 2002. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 500%.

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 is Rs 2,400 per sq.ft, which is equal to the current value of Lenin Nagar 17th Cross Street.

• Lenin Nagar 16th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 18th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 15th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 19th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 14th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lenin Nagar 17th 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lenin Nagar 17th Cross Street?

The Sub Registrar Office that covers Lenin Nagar 17th 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 details.

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 is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately assessing the financial implications of property transactions. It is advisable to consult the guideline value register for the most current figures before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Lenin Nagar 17th Cross Street?

The current guideline value of Lenin Nagar 17th 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 400 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 500%. There was a notable decrease from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017.

What is the land classification for Lenin Nagar 17th Cross Street?

Lenin Nagar 17th Cross Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Lenin Nagar 17th Cross Street?

The Sub Registrar Office for Lenin Nagar 17th Cross Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a plot valued at Rs 24,00,000 would incur a total fee of Rs 2,16,000.