Guideline Value for Lingam Nagar-I

Lingam Nagar-I guideline value

The current guideline value for Lingam Nagar-I is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Lingam Nagar-I has changed

The guideline value for Lingam Nagar-I has seen significant changes over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 1,800 per sq.ft in 2012, marking an increase of 800%. However, it dropped to Rs 1,206 per sq.ft in 2017, a decrease of 33%. The value then rose sharply to Rs 1,800 per sq.ft in 2023, followed by a further increase to Rs 1,980 per sq.ft in 2024, representing a 10% rise.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 890%. 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 that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median of Rs 2,310 per sq.ft. Lingam Nagar-I's 2024 figure of Rs 1,980 per sq.ft is below this median.

• Lingam Nagar-II: 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-I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total 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, resulting in a total of Rs 1,78,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Lingam Nagar-I?

The Sub Registrar Office that covers Lingam Nagar-I 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, buyers and sellers must consider the guideline value as it influences the stamp duty and registration fees. The higher of the guideline value and the sale price is used to calculate these fees, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Lingam Nagar-I 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 changed significantly, from Rs 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 890%.

What are the stamp duty and registration fees for property in Lingam Nagar-I?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers Lingam Nagar-I?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for registering a property. It also affects the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.