Guideline Value for Lenin Nagar

Lenin Nagar guideline value

The current guideline value of Lenin Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Lenin Nagar has changed

The guideline value for Lenin Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, with a value of Rs 138 per sq.ft. This increased to Rs 175 per sq.ft in 2003, marking a 27% rise. In 2007, the guideline value surged to Rs 400 per sq.ft, reflecting a significant increase of 129%. The value then jumped to Rs 2,200 per sq.ft in 2012, which was a 450% increase from the previous revision. However, between 2012 and 2017, the value decreased to Rs 1,474 per sq.ft, showing a decline of 33%. The guideline value then rose to Rs 2,200 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 has set the value at Rs 2,400 per sq.ft, representing a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value for Lenin Nagar has increased by 1,639%. There are no figures available for any other years for this street in the register.

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 is equal to the current guideline value of Lenin Nagar.

• Lenin Nagar 10th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 11th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 12th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 13th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 14th Cross Street: Rs 2,400 per sq.ft (2024)
• Lenin Nagar 15th Cross Street: Rs 2,400 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 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lenin Nagar?

The Sub Registrar Office covering Lenin Nagar 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 crucial factor during property transactions in Thirumullaivoyal. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

When selling a property, the guideline value serves as a reference point for both buyers and sellers. It ensures that the transaction is conducted at a value that is recognized by the local authorities, thereby facilitating a smoother registration process.

Frequently asked questions

What is the current guideline value of Lenin Nagar?

The current guideline value of Lenin Nagar 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 138 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, with several revisions in between, including a significant increase of 1,639% overall.

What is the stamp duty rate for property in Lenin Nagar?

The stamp duty rate for property in Lenin Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Lenin Nagar located?

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

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a reference point for both buyers and sellers, ensuring that the transaction is conducted at a recognized value.