Guideline Value for Lingam Nagar

Lingam Nagar guideline value

The current guideline value of Lingam Nagar, located in Karanaipuducheri village, is Rs 800 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Class I Type - II land classification in the Gooduvancheri SRO.

How the guideline value of Lingam Nagar has changed

The guideline value for Lingam Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, marking a 300% rise. However, by 2017, the value dropped to Rs 536 per sq.ft, a decrease of 33%. The 2023 revision maintained the value at Rs 800 per sq.ft, and the current 2024 revision also holds the same rate, showing no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 800 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 300%, reflecting the fluctuations in the property market over the years. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,239 per sq.ft. The median value for these streets is Rs 802 per sq.ft, placing Lingam Nagar's 2024 figure below that median.

• Lingam Nagar Extn: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees to Rs 72,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lingam Nagar?

The Sub Registrar Office covering Lingam Nagar is 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 during the registration of property transactions in Karanaipuducheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Lingam Nagar?

The current guideline value of Lingam Nagar is Rs 800 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 200 per sq.ft in 2007 to Rs 800 per sq.ft in 2012. The value has remained at Rs 800 per sq.ft since 2012, with a notable increase of 49% from 2017 to 2023.

What is the land classification for Lingam Nagar?

Lingam Nagar falls under the Residential Class I Type - II land classification, indicating its suitability for residential development.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 72,000.

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

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