Guideline Value for Sri Lingam Apartments

Sri Lingam Apartments guideline value

The current guideline value of Sri Lingam Apartments is Rs 2,310 per sq.ft. This property is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Lingam Apartments has changed

The guideline value for Sri Lingam Apartments has undergone several revisions over the years. The earliest available figure is from 2012, where the value was Rs 2,100 per sq.ft. This value saw a decrease to Rs 1,407 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 2,100 per sq.ft again. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 2,310 per sq.ft, reflecting a 10% increase from the 2023 figure of Rs 2,100 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, which is equal to the guideline value of Sri Lingam Apartments.

• Sri Mahalakshmi Nagar: Rs 2,640 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 1,650 per sq.ft (2024)
• Sri Lakshmi Enclave: Rs 1,650 per sq.ft (2024)
• Sri Lakshmi Apartments: Rs 2,640 per sq.ft (2024)
• Sri Nidhi Nagar: Rs 1,980 per sq.ft (2024)
• Srinivasa Perumal Sannathi Street: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lingam Apartments

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. 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 Sri Lingam Apartments?

The Sub Registrar Office covering Sri Lingam Apartments is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Lingam Apartments?

The current guideline value of Sri Lingam Apartments is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2012 to Rs 1,407 per sq.ft in 2017, then increased to Rs 2,100 per sq.ft in 2023, and finally to Rs 2,310 per sq.ft in 2024.

What is the land classification for Sri Lingam Apartments?

Sri Lingam Apartments is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Sri Lingam Apartments?

The Padappai Sub Registrar Office covers Sri Lingam Apartments, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Sri Lingam Apartments?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 23,10,000, the stamp duty at 7% would be Rs 1,61,700.