Guideline Value for Lenin Nagar

Lenin Nagar guideline value

The current guideline value of Lenin Nagar, located in Koozhangacheri village, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of Lenin Nagar has changed

Over the years, the guideline value of Lenin Nagar has seen several revisions. The 2007 revision set the value at Rs 50 per sq.ft, which increased significantly to Rs 250 per sq.ft in the 2012 revision, marking a 400% rise. However, the value dropped to Rs 167 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision maintained the value at Rs 250 per sq.ft, and the latest 2024 revision also holds it at Rs 250 per sq.ft, showing no change from the previous year.

The register has no figures for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Koozhangacheri

Koozhangacheri village has 47 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 200 to Rs 1,200 per sq.ft. The median value for these streets is Rs 226 per sq.ft, placing Lenin Nagar's value above that median.

• Lakshmi priya Nagar: Rs 200 per sq.ft (2024)
• Muthallamman Kovil Street: Rs 200 per sq.ft (2024)
• Kalathumettu Street: Rs 200 per sq.ft (2024)
• Navarathnapuri Phase - II: Rs 747 per sq.ft (2024)
• Navarthinapuri: Rs 400 per sq.ft (2024)
• Nehru Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Lenin Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. 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 detailed calculations.

Which Sub Registrar Office covers Lenin Nagar?

The Lenin Nagar area is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Koozhangacheri. It is used to determine the stamp duty and registration fees payable, ensuring that these costs are calculated based on the official valuation of the property.

When buying or selling property, understanding the guideline value helps both parties in negotiating the sale price and ensures compliance with local regulations. This value serves as a reference point for the legal documentation required during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Lenin Nagar?

The current guideline value of Lenin Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting at Rs 50 per sq.ft in 2007 and reaching Rs 250 per sq.ft in both 2012 and 2024. The value saw a drop to Rs 167 per sq.ft in 2017 but remained stable at Rs 250 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees in Lenin Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Lenin Nagar?

The Sunguvarchattram Sub Registrar Office handles property registrations for Lenin Nagar. It is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

What is the land classification for Lenin Nagar?

Lenin Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development within the area.