Guideline Value for Sri Lingam Nagar

Sri Lingam Nagar guideline value

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

How the guideline value of Sri Lingam Nagar has changed

The guideline value for Sri Lingam Nagar has seen several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it dropped to Rs 469 per sq.ft in 2017 before stabilizing again at Rs 700 per sq.ft in both 2023 and the upcoming 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The value remained unchanged from 2023 to 2024, reflecting a 0% change. Overall, from 2007 to 2024, the guideline value has increased by 250%.

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 value of Rs 802 per sq.ft. The guideline value for Sri Lingam Nagar is below this median.

• Sri Lingam Nagar Extn: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost for these fees to Rs 63,000. 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 Lingam Nagar?

The Sub Registrar Office that covers Sri Lingam Nagar 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 more information.

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

The guideline value plays a crucial role during the registration of property transactions in Karanaipuducheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable fees, ensuring that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Sri Lingam Nagar?

The current guideline value of Sri Lingam Nagar 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 since 2023.

What is the land classification of Sri Lingam Nagar?

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

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

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

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

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