Guideline Value for Lingeswarar Nagar

Lingeswarar Nagar guideline value

The current guideline value of Lingeswarar 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 Lingeswarar Nagar has changed

Over the years, the guideline value for Lingeswarar Nagar has seen several revisions. The earliest recorded revision was in 2012, where the value was Rs 200 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 134 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision has maintained this figure, showing no change from the previous year.

It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 200 per sq.ft.

Guideline values in Kilay

In Kilay, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 300 per sq.ft. Lingeswarar Nagar's current value is below this median.

• Lingeswar 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 Lingeswarar Nagar

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

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lingeswarar Nagar?

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

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

The guideline value is a crucial factor in property transactions in Kilay, as it determines the amount of stamp duty and registration fees payable when buying or selling property. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lingeswarar Nagar?

The current guideline value of Lingeswarar 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 from 2012 to 2024, with a significant drop to Rs 134 per sq.ft in 2017 before returning to Rs 200 per sq.ft in 2023.

What is the land classification for Lingeswarar Nagar?

Lingeswarar Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

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

How is stamp duty calculated for properties in Lingeswarar Nagar?

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