Guideline Value for Lingam st ( Ward No.30 )

Lingam st ( Ward No.30 ) guideline value

The current guideline value of Lingam st ( Ward No.30 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Lingam st ( Ward No.30 ) has changed

Over the years, the guideline value of Lingam st has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,200 per sq.ft. The latest revision in 2024 has further increased the value to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, placing Lingam st's 2024 figure below this median.

• L.N.P. Koil St (Ward-28): Rs 1,300 per sq.ft (2024)
• Logammal Nagar (Ward-08): Rs 1,300 per sq.ft (2024)
• Lotus Colony 1st St (Ward-11): Rs 3,000 per sq.ft (2024)
• Lotus Colony 2nd St (Ward-11): Rs 3,000 per sq.ft (2024)
• Lotus Colony 3rd St (Ward-11): Rs 3,000 per sq.ft (2024)
• Lotus Colony (Ward-11): Rs 3,000 per sq.ft (2024)

Stamp duty and registration fee for property in Lingam st ( Ward No.30 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Lingam st ( Ward No.30 )?

The Sub Registrar Office that covers Lingam st ( Ward No.30 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the current market standards as set by the government.

When buying or selling property, it is essential to refer to the guideline value to understand the financial implications of the transaction. This value helps both buyers and sellers to navigate the registration process more effectively.

Frequently asked questions

What is the current guideline value of Lingam st ( Ward No.30 )?

The current guideline value of Lingam st ( Ward No.30 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Lingam st ( Ward No.30 )?

The land classification for Lingam st ( Ward No.30 ) is Residential Class III Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Lingam st ( Ward No.30 )?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,17,000.