Guideline Value for Lingesan Street (Krishnamoorthy Nagar)

Lingesan Street (Krishnamoorthy Nagar) guideline value

The current guideline value of Lingesan Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Lingesan Street (Krishnamoorthy Nagar) has changed

The guideline value for Lingesan Street (Krishnamoorthy Nagar) has seen revisions over the years. In the 2012 revision, the value was Rs 2,500 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register does not have figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the current guideline value of Lingesan Street (Krishnamoorthy Nagar).

• Lingesan Street (R.V. Nagar): Rs 2,700 per sq.ft (2024)
• lingasan Street: Rs 2,700 per sq.ft (2024)
• Loganathan Street: Rs 2,200 per sq.ft (2024)
• Loganathan Street (G.M. Nagar): Rs 2,200 per sq.ft (2024)
• Loganathan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Lenin Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Lingesan Street (Krishnamoorthy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Lingesan Street (Krishnamoorthy Nagar)?

The Sub Registrar Office that covers Lingesan Street (Krishnamoorthy Nagar) 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 Kodungaiyur

The guideline value is an important factor when registering property transactions in Kodungaiyur. It determines the minimum value at which property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for the transaction. It is crucial for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Lingesan Street (Krishnamoorthy Nagar)?

The current guideline value of Lingesan Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 2,500 per sq.ft to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 8% over this period.

What is the land classification for Lingesan Street (Krishnamoorthy Nagar)?

Lingesan Street (Krishnamoorthy Nagar) is classified as Residential Class I Type - I under the land classification system.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area, including Lingesan Street (Krishnamoorthy Nagar).

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a property valued at Rs 27,00,000, the total fees would be Rs 2,43,000.