Guideline Value for Lenin Street

Lenin Street guideline value

The current guideline value of Lenin Street in Chitlapakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Lenin Street has changed

The guideline value for Lenin Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 3,000 per sq.ft. This figure remained the same in the subsequent revision in 2017, where it dropped to Rs 2,010 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in the 2023 revision, rising to Rs 3,000 per sq.ft, and further increasing to Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Lenin Street's 2024 figure above this median.

• Lenin Cross Street: Rs 1,650 per sq.ft (2024)
• L.I.C. Colony: Rs 1,650 per sq.ft (2024)
• Lalbagadur Sastri Street: Rs 1,650 per sq.ft (2024)
• Lolpagathur sarashvathiri street: Rs 1,650 per sq.ft (2024)
• Lord venkateshvara nagar: Rs 1,650 per sq.ft (2024)
• Lottus Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Lenin Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lenin Street?

The Sub Registrar Office that covers Lenin Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of property transactions. Accurate knowledge of these values ensures compliance with local regulations and helps in smooth property transfers.

Frequently asked questions

What is the current guideline value of Lenin Street?

The current guideline value of Lenin Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Lenin Street?

Lenin Street is classified as Residential Class I Type - I under the guideline value register.

What is the median guideline value in Chitlapakkam?

The median guideline value for streets in Chitlapakkam is Rs 1,650 per sq.ft, which is below the current value of Lenin Street.

Where can I find the Sub Registrar Office for Lenin Street?

The Sub Registrar Office for Lenin Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.