Guideline Value for ISHA LAKE FRONT

Isha Lake Front guideline value

The current guideline value of Isha Lake Front is Rs 3,500 per sq.ft, effective from 1 July 2024. It is located in Madambakkam village, under the Selaiyur SRO, and is classified as Mixed Type - I land.

How the guideline value of Isha Lake Front has changed

The guideline value for Isha Lake Front has undergone several revisions over the years. The 2017 revision set the value at Rs 3,250 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 3,250 per sq.ft. However, in the 2024 revision, the value increased to Rs 3,500 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Isha Lake Front's 2024 figure above that median.

• Jaivandha Puram: Rs 2,400 per sq.ft (2024)
• Jaivandha Puram 1st Main Road: Rs 2,400 per sq.ft (2024)
• Jaivandha Puram 2nd Main Road: Rs 2,400 per sq.ft (2024)
• Jaivandha Puram 3rd Main Road: Rs 2,400 per sq.ft (2024)
• Jaivandha Puram Cross Street: Rs 2,400 per sq.ft (2024)
• Jaivandha Puram Main Road: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Isha Lake Front

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total cost to Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Isha Lake Front?

The Isha Lake Front falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value to ensure compliance with legal requirements. The guideline value reflects the government's assessment of property worth in a specific area, aiding in the standardization of property transactions.

Frequently asked questions

What is the current guideline value of Isha Lake Front?

The current guideline value of Isha Lake Front is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 3,250 per sq.ft from 2017 to 2023, before increasing to Rs 3,500 per sq.ft in 2024. This represents an overall increase of 8% from 2017 to 2024.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam have guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median of Rs 2,400 per sq.ft. Isha Lake Front's guideline value is above this median.

What fees are associated with buying property in Isha Lake Front?

When buying property in Isha Lake Front, the stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. Together, these fees can add a significant amount to the total cost of the property.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in the Isha Lake Front area.