Guideline Value for Lenin Street

Lenin Street guideline value

The current guideline value of Lenin Street in Kodungaiyur village under the Madhavaram SRO is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class I Type - I.

How the guideline value of Lenin Street has changed

Since the 2012 revision, the guideline value for Lenin Street has seen an increase of 8%. The 2012 revision maintained a guideline value of Rs 2,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 2,500 per sq.ft, but in 2024, it rose to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

For the years 2002, 2003, 2007, and 2017, the register has no figure for this street. Therefore, the most recent revisions that affect the guideline value are from 2012, 2023, and 2024.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with a 2024 guideline value range from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current guideline value of Lenin Street.

• Lenin Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Lingasan Street: Rs 2,700 per sq.ft (2024)
• Lingesan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Lingesan Street (R.V. Nagar): Rs 2,700 per sq.ft (2024)
• Loganathan Street: Rs 2,200 per sq.ft (2024)
• Loganathan Street (G.M. Nagar): Rs 2,200 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the property transaction.

Frequently asked questions

What is the current guideline value of Lenin Street?

The current guideline value of Lenin Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased by 8% from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024. There was no change in the value from 2012 to 2023.

What is the land classification for Lenin Street?

Lenin Street is classified as Residential Class I Type - I. This classification is important for determining the guideline value and other regulations related to property transactions.

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

The Madhavaram Sub Registrar Office covers Lenin Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Lenin Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.