Guideline Value for Lenin Street(gnanamurthy nagar)

Lenin Street(gnanamurthy nagar) guideline value

The current guideline value of Lenin Street(gnanamurthy nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO, classified as Residential Special Type - I.

How the guideline value of Lenin Street(gnanamurthy nagar) has changed

The guideline value for Lenin Street(gnanamurthy nagar) has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 1,600 per sq.ft, which decreased to Rs 1,072 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 1,600 per sq.ft in 2023, and then further increased to Rs 1,700 per sq.ft in the 2024 revision, marking a 6% rise from the previous year.

From the 2012 revision to the 2024 revision, the overall change in guideline value is +6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value of Lenin Street(gnanamurthy nagar) is above this median.

• Madhavan Street: Rs 1,700 per sq.ft (2024)
• Madhavi Street: Rs 1,700 per sq.ft (2024)
• Maga Ganapathy Street: Rs 1,001 per sq.ft (2024)
• Lakshmi Colony: Rs 1,300 per sq.ft (2024)
• Kuppusamy Street: Rs 1,001 per sq.ft (2024)
• Mariyamman Koil Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Lenin Street(gnanamurthy nagar)

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. Please note that 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 details.

Which Sub Registrar Office covers Lenin Street(gnanamurthy nagar)?

The Sub Registrar Office covering Lenin Street(gnanamurthy 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 Menambedu

The guideline value is a crucial factor when buying or selling property in Menambedu, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. The registration process requires adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Lenin Street(gnanamurthy nagar)?

The current guideline value of Lenin Street(gnanamurthy nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Lenin Street(gnanamurthy nagar)?

Lenin Street(gnanamurthy nagar) is classified as Residential Special Type - I.

Where is the Sub Registrar Office for Lenin Street(gnanamurthy nagar)?

The Ambattur Sub Registrar Office 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 determine the minimum registration value for properties in Menambedu. It is essential for calculating stamp duty and registration fees during property transactions.