Guideline Value for Lingeswaran Nagar

Lingeswaran Nagar guideline value

The current guideline value of Lingeswaran Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Thiruverkadu village and falls under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Lingeswaran Nagar has changed

The guideline value of Lingeswaran Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012. However, it dropped to Rs 938 per sq.ft in 2017 before rising to Rs 1,400 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 1,540 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes are notable. From 2007 to 2012, there was a substantial increase of 460%. The value then decreased by 33% from 2012 to 2017. After that, it increased by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 516%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median value is Rs 1,540 per sq.ft, which is the same as the guideline value for Lingeswaran Nagar.

• Mahalakshmi Nagar 10th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 1st Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 2nd Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 3rd Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 4th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 5th Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Lingeswaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lingeswaran Nagar?

The Sub Registrar Office that covers Lingeswaran Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruverkadu. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid to the government.

It is essential for both buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Proper understanding of the guideline value ensures compliance with legal requirements during property registration.

Frequently asked questions

What is the current guideline value of Lingeswaran Nagar?

The current guideline value of Lingeswaran Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, with various revisions in between.

What is the stamp duty rate for properties in Lingeswaran Nagar?

The stamp duty rate for properties in Lingeswaran Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the other streets with the same guideline value in Thiruverkadu?

Other streets in Thiruverkadu with the same guideline value of Rs 1,540 per sq.ft include several streets in Mahalakshmi Nagar, such as the 1st to 5th Cross Streets.