Guideline Value for Lingam Nagar-II

Lingam Nagar-II guideline value

The current guideline value of Lingam Nagar-II is Rs 1,980 per sq.ft. This area is located in Perungalathur village under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class III Type - I.

How the guideline value of Lingam Nagar-II has changed

The guideline value for Lingam Nagar-II has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, it then decreased to Rs 1,206 per sq.ft in 2017. The value rose again to Rs 1,800 per sq.ft in 2023 and has now reached Rs 1,980 per sq.ft with the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the guideline value increased by 10%. Overall, from 2007 to 2024, the guideline value has risen by 692%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, placing Lingam Nagar-II's 2024 value below this median.

• Lingam Nagar-I: Rs 1,980 per sq.ft (2024)
• Lime Light Avenue Phase II: Rs 2,640 per sq.ft (2024)
• Lime Light Avenue: Rs 2,310 per sq.ft (2024)
• L.M.J Garden: Rs 2,310 per sq.ft (2024)
• Laxmi Nagar: Rs 2,310 per sq.ft (2024)
• Madan Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Lingam Nagar-II

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lingam Nagar-II?

The Sub Registrar Office that covers Lingam Nagar-II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is documented accurately. This value helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Lingam Nagar-II?

The current guideline value of Lingam Nagar-II is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 250 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, with notable fluctuations in between.

What is the land classification for Lingam Nagar-II?

The land classification for Lingam Nagar-II is Residential Class III Type - I, indicating its use for residential purposes.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Lingam Nagar-II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at 7%.