Guideline Value for SRI LINGA ESWAR NAGAR

Sri Linga Eswar Nagar guideline value

The current guideline value of Sri Linga Eswar Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Nerkundram village and falls under the Salavakkam SRO. The land classification for this locality is Residential Class I Type - I.

How the guideline value of Sri Linga Eswar Nagar has changed

The guideline value for Sri Linga Eswar Nagar has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was set at Rs 75 per sq.ft. This was followed by a decrease to Rs 50 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the 2023 revision, the value increased to Rs 100 per sq.ft, reflecting a 100% rise. The most recent revision in 2024 maintains this value at Rs 100 per sq.ft, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Nerkundram

In Nerkundram, there are three streets under the Salavakkam SRO with a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median value for these streets is Rs 100 per sq.ft, which aligns with the guideline value of Sri Linga Eswar Nagar.

• Gkm Nagar: Rs 100 per sq.ft (2024)
• Golden Aura: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Linga Eswar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Linga Eswar Nagar?

The Sub Registrar Office that covers Sri Linga Eswar Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Nerkundram. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a baseline for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal and financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Linga Eswar Nagar?

The current guideline value of Sri Linga Eswar Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and remains at Rs 100 per sq.ft in 2024. Overall, it has increased by 33% from 2012 to 2024.

What is the registration office for Sri Linga Eswar Nagar?

The registration office for Sri Linga Eswar Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is stamp duty calculated for property in Sri Linga Eswar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 100 per sq.ft, the total guideline value is Rs 1,00,000, leading to a stamp duty of Rs 7,000.

What are the other streets in Nerkundram with guideline values?

Other streets in Nerkundram under the Salavakkam SRO include Gkm Nagar, which has a guideline value of Rs 100 per sq.ft, and Golden Aura, which has a guideline value of Rs 400 per sq.ft for 2024.