Guideline Value for Lenin Nagar 21st Cross Street

Lenin Nagar 21st Cross Street guideline value

The current guideline value of Lenin Nagar 21st 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 21st Cross Street has changed

The guideline value for Lenin Nagar 21st Cross Street has seen significant changes over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased dramatically to Rs 2,200 per sq.ft in 2012, marking a rise of 450%. However, between 2012 and 2017, there was a decrease to Rs 1,474 per sq.ft, which represented a decline of 33%. The value then rose to Rs 2,200 per sq.ft in 2023, a substantial increase of 49%.

As of the 2024 revision, the guideline value stands at Rs 2,400 per sq.ft, reflecting a 9% increase 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.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that have 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 aligns with the 2024 figure for Lenin Nagar 21st Cross Street.

• Lenin Nagar 20th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 22nd Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 1st Main Road: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 23rd Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 2nd Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lenin Nagar 21st 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lenin Nagar 21st Cross Street?

The Sub Registrar Office that covers Lenin Nagar 21st 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 critical 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 that need to be paid during the property transaction.

When a property is registered, the guideline value is considered along with the sale price, and the higher of the two is used for calculating the applicable fees. This ensures that the registration process is transparent and consistent across different transactions.

Frequently asked questions

What is the current guideline value of Lenin Nagar 21st Cross Street?

The current guideline value of Lenin Nagar 21st 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 significantly from Rs 400 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 500% over this period.

What is the median guideline value in Thirumullaivoyal?

The median guideline value for streets in Thirumullaivoyal is Rs 2,400 per sq.ft, which is the same as the current value for Lenin Nagar 21st Cross Street.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions 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 21st Cross Street?

The Sub Registrar Office for Lenin Nagar 21st 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.