Guideline Value for Lenin Nagar 22nd Cross Street

Lenin Nagar 22nd Cross Street guideline value

The current guideline value of Lenin Nagar 22nd 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 22nd Cross Street has changed

The guideline value for Lenin Nagar 22nd Cross Street has undergone several revisions over the years. The earliest registered figure is from 2012, which was Rs 2,200 per sq.ft. This value decreased to Rs 1,474 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,400 per sq.ft, showing a 9% increase from the previous year’s Rs 2,200 per sq.ft.

It is important to note that there are no registered figures for Lenin Nagar 22nd Cross Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a net increase of 9%.

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 is Rs 2,400 per sq.ft, which matches the current guideline value of Lenin Nagar 22nd Cross Street.

• Lenin Nagar 21st Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 23rd Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 20th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 1st Main Road: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 2nd Main Road: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lenin Nagar 22nd 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 charged at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000. Together, the total fees would be 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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lenin Nagar 22nd Cross Street?

The Sub Registrar Office that covers Lenin Nagar 22nd 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.

To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Lenin Nagar 22nd Cross Street?

The current guideline value of Lenin Nagar 22nd 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 significantly, with the most recent increase from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024, a rise of 9%. The value also increased from Rs 1,474 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2023, marking a 49% increase.

What is the stamp duty for property in Lenin Nagar 22nd Cross Street?

The stamp duty for property in Lenin Nagar 22nd Cross Street is calculated at 7% of the guideline value. For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000.

Which office handles registrations for Lenin Nagar 22nd Cross Street?

The Ambattur Sub Registrar Office handles registrations for Lenin Nagar 22nd Cross Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

What is the land classification for Lenin Nagar 22nd Cross Street?

Lenin Nagar 22nd Cross Street is classified as Residential Class I Type - I, indicating its designation for residential purposes within the area.