Guideline Value for Lingam Street Extn.,/ Senthil Nagar

Lingam Street Extn.,/ Senthil Nagar guideline value

The current guideline value of Lingam Street Extn.,/ Senthil Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under Pammal village and is classified as Residential Class II Type - II. The guideline value is determined by the Pammal Sub Registrar Office (SRO).

How the guideline value of Lingam Street Extn.,/ Senthil Nagar has changed

Over the years, the guideline value of Lingam Street Extn.,/ Senthil Nagar has seen significant changes. In 2002, the guideline value was Rs 163 per sq.ft, which increased to Rs 227 per sq.ft in 2003, marking a 39% increase. The value further rose to Rs 575 per sq.ft in 2007, a substantial jump of 153%. By 2017, the guideline value reached Rs 1,206 per sq.ft, reflecting a 110% increase from the previous revision. However, there is no figure available for the year 2012.

Continuing this trend, the guideline value increased to Rs 1,800 per sq.ft in 2023, which was a 49% rise from 2017. The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, indicating a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1115%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in this area is Rs 2,090 per sq.ft, placing Lingam Street Extn.,/ Senthil Nagar's 2024 figure below that median.

• Lingam Street / Samundeswari Nagar: Rs 1,980 per sq.ft (2024)
• LIC Colony Extension: Rs 2,530 per sq.ft (2024)
• LIC Colony, 7th Cross Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 6th Street: Rs 2,530 per sq.ft (2024)
• LIC Colony, 6th Cross Street: Rs 2,530 per sq.ft (2024)
• LIC Colony 5th Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Lingam Street Extn.,/ Senthil Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lingam Street Extn.,/ Senthil Nagar?

The Sub Registrar Office that covers Lingam Street Extn.,/ Senthil Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees during the registration process.

Additionally, the guideline value is essential for ensuring transparency and standardization in property transactions. It helps to establish a fair basis for valuation, making it easier for both parties to understand their financial obligations during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Lingam Street Extn.,/ Senthil Nagar?

The current guideline value of Lingam Street Extn.,/ Senthil Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly from Rs 163 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1115%.

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

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 is responsible for Lingam Street Extn.,/ Senthil Nagar?

The Pammal Sub Registrar Office is responsible for Lingam Street Extn.,/ Senthil Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Lingam Street Extn.,/ Senthil Nagar?

The land classification for Lingam Street Extn.,/ Senthil Nagar is Residential Class II Type - II.