Guideline Value for Lingeswar Nagar

Lingeswar Nagar guideline value

The current guideline value of Lingeswar Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Kilay village under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Lingeswar Nagar has changed

Over the years, the guideline value of Lingeswar Nagar has seen various revisions. The 2012 revision set the guideline value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. Following this, there was a significant increase to Rs 200 per sq.ft in the 2023 revision, which has remained the same in the 2024 revision, indicating a change of +49% from 2017 to 2023 and no change from 2023 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Lingeswar Nagar. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Kilay

In Kilay village, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 400 per sq.ft. The median guideline value in this area is Rs 300 per sq.ft, which means that Lingeswar Nagar's 2024 guideline value is below this median.

• Lingeswarar Nagar: Rs 200 per sq.ft (2024)
• Kutty Nagar: Rs 300 per sq.ft (2024)
• Kujalamba Colony: Rs 300 per sq.ft (2024)
• Marathamannam koil st: Rs 300 per sq.ft (2024)
• M.G.R Street: Rs 150 per sq.ft (2024)
• J.P. Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Lingeswar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total cost for these fees Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Lingeswar Nagar?

The Sub Registrar Office that covers Lingeswar Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kilay. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that the appropriate taxes are collected based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Lingeswar Nagar?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since the 2012 revision until 2024, with a drop to Rs 134 per sq.ft in 2017 before returning to Rs 200 per sq.ft in 2023.

What are the other streets in Kilay and their guideline values?

Other streets in Kilay include Kutty Nagar, Kujalamba Colony, Marathamannam koil st, M.G.R Street, and J.P. Nagar, with guideline values ranging from Rs 150 to Rs 300 per sq.ft.

Where can I find the Sub Registrar Office for Lingeswar Nagar?

The Sub Registrar Office for Lingeswar Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Lingeswar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 at 7%.