Guideline Value for Sri Lingam Nagar Extn

Sri Lingam Nagar Extn guideline value

The current guideline value of Sri Lingam Nagar Extn, located in Karanaipuducheri village under the Gooduvancheri SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Lingam Nagar Extn has changed

The guideline value for Sri Lingam Nagar Extn has undergone several revisions over the years. In 2007, the guideline value was set at Rs 200 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a 250% rise. However, between 2012 and 2017, the value decreased to Rs 469 per sq.ft, a decline of 33%. The most recent revisions show that the value remained at Rs 700 per sq.ft in both 2023 and 2024, indicating no change over this period.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 250%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,239 per sq.ft, with a median of Rs 802 per sq.ft. The guideline value of Sri Lingam Nagar Extn is below this median.

• Sri Lingam Nagar: Rs 700 per sq.ft (2024)
• Sri Jayendira Saraswathi Suwamigal Nagar Extn: Rs 1,200 per sq.ft (2024)
• Sri Jayendira Saraswathi Suwamigal Nagar: Rs 1,200 per sq.ft (2024)
• Sri Jakki Vasudev Nagar - II: Rs 1,000 per sq.ft (2024)
• Sri Jakki Vasudev Nagar: Rs 1,000 per sq.ft (2024)
• Sri Padmavathi Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lingam Nagar Extn

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Lingam Nagar Extn?

The Sub Registrar Office that covers Sri Lingam Nagar Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Karanaipuducheri. It serves as a benchmark for determining the minimum value of a property, which is used for calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Lingam Nagar Extn?

The current guideline value of Sri Lingam Nagar Extn is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and has remained at Rs 700 per sq.ft in both 2023 and 2024.

What is the land classification of Sri Lingam Nagar Extn?

Sri Lingam Nagar Extn is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sri Lingam Nagar Extn is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Lingam Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,00,000, the stamp duty at 7% would be Rs 49,000.