Guideline Value for Lingesan Street (R.V. Nagar)

Lingesan Street (R.V. Nagar) guideline value

The current guideline value of Lingesan Street (R.V. 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 (R.V. Nagar) has changed

In the 2012 revision, the guideline value for Lingesan Street (R.V. Nagar) was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, the 2024 revision saw an increase to Rs 2,700 per sq.ft, marking an 8% rise from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 8%.

There are no figures available for Lingesan Street (R.V. Nagar) in the revisions for the years 2002, 2003, 2007, and 2017. The only revisions that provide figures are from 2012, 2023, and 2024.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current value for Lingesan Street (R.V. Nagar).

• Lingesan Street (Krishnamoorthy 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 (R.V. 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, resulting in a total of Rs 2,43,000. Stamp duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Lingesan Street (R.V. Nagar)?

The Sub Registrar Office that covers Lingesan Street (R.V. 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 a crucial factor during the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Lingesan Street (R.V. Nagar)?

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

How has the guideline value changed over the years?

The guideline value for Lingesan Street (R.V. Nagar) was Rs 2,500 per sq.ft in 2012 and remained the same in 2023. It increased to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification for Lingesan Street (R.V. Nagar)?

Lingesan Street (R.V. Nagar) is classified as Residential Class I Type - I under the guideline value regulations.

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.

How is stamp duty calculated for properties on Lingesan Street (R.V. Nagar)?

Stamp duty for properties on Lingesan Street (R.V. Nagar) is calculated based on the higher of the guideline value or the sale price. For instance, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,89,000.