Guideline Value for Lenin Nagar 1st Cross Street

Lenin Nagar 1st Cross Street guideline value

The current guideline value of Lenin Nagar 1st 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 1st Cross Street has changed

In the 2012 revision, the guideline value was Rs 2,200 per sq.ft. This figure decreased to Rs 1,474 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value increased significantly to Rs 2,400 per sq.ft, reflecting a rise of 63% over this period. The overall change from 2012 to 2024 shows a slight increase of 9%.

The register has no figures for the years 2002, 2003, 2007, and 2023 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 value for these streets is Rs 2,400 per sq.ft, which is equal to the 2024 guideline value of Lenin Nagar 1st Cross Street.

• Lenin Nagar 19th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 1st Main Road: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 18th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 20th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 17th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 21st Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lenin Nagar 1st 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 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 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 information.

Which Sub Registrar Office covers Lenin Nagar 1st Cross Street?

The Sub Registrar Office that covers Lenin Nagar 1st Cross Street is the Ambattur Sub Registrar Office. The address is 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 is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the authorities will assess the guideline value to ensure that the appropriate fees are calculated based on the higher value between the guideline and the sale price. This ensures compliance with local regulations and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Lenin Nagar 1st Cross Street?

The current guideline value of Lenin Nagar 1st 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 seen several changes: it was Rs 2,200 per sq.ft in 2012, decreased to Rs 1,474 per sq.ft in 2017, and then increased to Rs 2,400 per sq.ft in 2024.

What is the land classification of Lenin Nagar 1st Cross Street?

Lenin Nagar 1st Cross Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Lenin Nagar 1st Cross Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty at 7% would be Rs 1,68,000.