Guideline Value for LINGAM NAGAR

Lingam Nagar guideline value

The current guideline value of Lingam Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kannampalayam village under the Kunrathur SRO, classified as Residential Class II Type - V.

How the guideline value of Lingam Nagar has changed

The guideline value register for Lingam Nagar shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only revision available is from 2024, which is set at Rs 3,300 per sq.ft.

As there are no previous figures for this street in the register, there have been no changes between revisions. The 2024 figure is the first recorded value for Lingam Nagar.

Guideline values in Kannampalayam

In Kannampalayam, there are 75 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 765 to Rs 4,000 per sq.ft, with a median value of Rs 1,375 per sq.ft. Lingam Nagar's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Lakshmi Town: Rs 2,310 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Lakshmi Nagar: Rs 880 per sq.ft (2024)
• Mahalakshmi Nagar Phase-I: Rs 3,080 per sq.ft (2024)
• Kps Nagar: Rs 2,310 per sq.ft (2024)
• Middle Street: Rs 765 per sq.ft (2024)

Stamp duty and registration fee for property in Lingam Nagar

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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. 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 Lingam Nagar?

The Sub Registrar Office covering Lingam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Kannampalayam. It serves as a benchmark for the minimum value at which properties can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that all transactions adhere to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Lingam Nagar?

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

What are the other streets in Kannampalayam with their guideline values?

Other streets in Kannampalayam include Lakshmi Town at Rs 2,310 per sq.ft, Mahalakshmi Nagar at Rs 1,320 per sq.ft, Lakshmi Nagar at Rs 880 per sq.ft, Mahalakshmi Nagar Phase-I at Rs 3,080 per sq.ft, Kps Nagar at Rs 2,310 per sq.ft, and Middle Street at Rs 765 per sq.ft.

How is the stamp duty calculated in Lingam Nagar?

Stamp duty in Lingam Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. This ensures that the duty reflects the true value of the property being registered.

Where can I find the Sub Registrar Office for Lingam Nagar?

The Sub Registrar Office for Lingam Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles all property registrations for the area.

What is the land classification of Lingam Nagar?

Lingam Nagar is classified as Residential Class II Type - V, which indicates its suitability for residential development and activities.