Guideline Value for Lingam Nagar Extn

Lingam Nagar Extn guideline value

The current guideline value of Lingam Nagar Extn is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Karanaipuducheri village, under the Gooduvancheri SRO, and is classified as Residential Class I Type - II.

How the guideline value of Lingam Nagar Extn has changed

The guideline value for Lingam Nagar Extn has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it then dropped to Rs 536 per sq.ft in 2017, before returning to Rs 800 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while there was no change from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 300%, reflecting significant changes in the area over the years.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,239 per sq.ft. The median guideline value is Rs 802 per sq.ft, making the current value of Rs 800 per sq.ft for Lingam Nagar Extn slightly below the median.

• Lingam Nagar: Rs 800 per sq.ft (2024)
• Lalitha Nagar: Rs 800 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• Lakshmi Nagar: Rs 701 per sq.ft (2024)
• Lakshmi Ganapathy Nagar: Rs 1,200 per sq.ft (2024)
• Mahalakshmi Nagar Extn: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Lingam Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total cost Rs 72,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lingam Nagar Extn?

The Lingam Nagar Extn area falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Karanaipuducheri. It determines the minimum value at which the property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Lingam Nagar Extn?

The current guideline value of Lingam Nagar Extn is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and returned to Rs 800 per sq.ft in both 2023 and 2024.

What is the land classification of Lingam Nagar Extn?

Lingam Nagar Extn is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 8,00,000, the total fees would be Rs 72,000.

Which office handles registrations for Lingam Nagar Extn?

The Gooduvancheri Sub Registrar Office handles registrations for Lingam Nagar Extn, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.