Guideline Value for S.V. Lingam (Road) (Salai)

S.V. Lingam (Road) (Salai) guideline value

The current guideline value of S.V. Lingam (Road) (Salai) is Rs 7,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of S.V. Lingam (Road) (Salai) has changed

Over the years, the guideline value of S.V. Lingam (Road) (Salai) has seen significant changes. The 2007 revision recorded a guideline value of Rs 2,120 per sq.ft, which increased dramatically to Rs 6,500 per sq.ft in the 2012 revision, marking a rise of 207%. However, this value decreased to Rs 4,355 per sq.ft in the 2017 revision, reflecting a decline of 33%. The 2023 revision then saw an increase to Rs 6,500 per sq.ft, followed by the current value of Rs 7,000 per sq.ft in 2024, which is an increase of 8% from the previous year.

In summary, from 2007 to 2024, the overall increase in the guideline value is 230%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing S.V. Lingam (Road) (Salai) above this median with its current rate of Rs 7,000 per sq.ft.

• S.V. Chidambaram Salai Block 78: Rs 4,900 per sq.ft (2024)
• S.V. Nagarathinam Street: Rs 4,100 per sq.ft (2024)
• Susila Street: Rs 4,100 per sq.ft (2024)
• Swamy Nathan Street: Rs 4,100 per sq.ft (2024)
• Sunday Observer Balasubramaniyam Street: Rs 4,900 per sq.ft (2024)
• Sundar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.V. Lingam (Road) (Salai)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value amounts to Rs 70,00,000. The stamp duty is charged at 7%, which totals Rs 4,90,000, while the registration fee is 2%, amounting to Rs 1,40,000. Therefore, the total cost for stamp duty and registration fees together is Rs 6,30,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers S.V. Lingam (Road) (Salai)?

The Sub Registrar Office that covers S.V. Lingam (Road) (Salai) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For more information, you can find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Kodambakkam. It is the minimum value set by the government for the purpose of calculating stamp duty and registration fees. Buyers and sellers must consider this value when determining the financial aspects of a property transaction.

During the registration process, the guideline value is used to assess the applicable stamp duty and registration fees. This ensures that the transaction adheres to the legal requirements and reflects the value of the property being transferred.

Frequently asked questions

What is the current guideline value of S.V. Lingam (Road) (Salai)?

The current guideline value of S.V. Lingam (Road) (Salai) is Rs 7,000 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 2,120 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for S.V. Lingam (Road) (Salai)?

The land classification for S.V. Lingam (Road) (Salai) is Residential Special Type - III.

Where can I find the Sub Registrar Office for S.V. Lingam (Road) (Salai)?

The Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, covers S.V. Lingam (Road) (Salai).

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 70,00,000, the stamp duty would be Rs 4,90,000 at a rate of 7%.