Guideline Value for Lingam Nagar

Lingam Nagar guideline value

The current guideline value of Lingam Nagar, located in Mudichur village under the Padappai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Lingam Nagar has changed

The guideline value for Lingam Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 700%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, a 49% increase from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, representing a 10% increase from the 2023 figure. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Lingam Nagar matches this median.

• Lal Bahadur Sasthiri Street: Rs 3,630 per sq.ft (2024)
• Madhanapuram: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar Extn: Rs 3,630 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,760 per sq.ft (2024)
• Lakshmi Nagar: Rs 3,630 per sq.ft (2024)
• Mahalakshmi Street: Rs 1,760 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that 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 that covers Lingam Nagar 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mudichur. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Lingam Nagar?

The current guideline value of Lingam Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

What is the land classification for Lingam Nagar?

The land classification for Lingam Nagar is Residential Special Type - I.

What are the stamp duty rates for property in Lingam Nagar?

The stamp duty for property in Lingam Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Lingam Nagar located?

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