Guideline Value for LAKEVIEW (KOLADI)

Lakeview (Koladi) guideline value

The current guideline value for Lakeview (Koladi) is Rs 660 per sq.ft, effective from 1 July 2024. This property is located in Koladi village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - III.

How the guideline value of Lakeview (Koladi) has changed

The guideline value for Lakeview (Koladi) has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 140% rise. However, it then decreased to Rs 402 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 600 per sq.ft in 2023, and again increased to Rs 660 per sq.ft in 2024, reflecting a 10% increase.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 164%.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Lakeview (Koladi) is below this median.

• Lakshmi Nagar: Rs 1,105 per sq.ft (2024)
• Kumar Street Main And Cross Street: Rs 1,100 per sq.ft (2024)
• Kumar Street 2nd Cross Road: Rs 1,100 per sq.ft (2024)
• Kumar Street: Rs 1,100 per sq.ft (2024)
• Kulakkarai Street: Rs 660 per sq.ft (2024)
• Krv Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Lakeview (Koladi)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakeview (Koladi)?

The Sub Registrar Office that covers Lakeview (Koladi) is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Koladi. It serves as a benchmark for determining the amount of stamp duty and registration fees payable when buying or selling property.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Lakeview (Koladi)?

The current guideline value for Lakeview (Koladi) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 164%.

What are the other streets in Koladi and their guideline values?

Other streets in Koladi include Lakshmi Nagar at Rs 1,105 per sq.ft, Kumar Street Main And Cross Street at Rs 1,100 per sq.ft, and Kulakkarai Street at Rs 660 per sq.ft, among others.

What are the stamp duty and registration fees for properties in Lakeview (Koladi)?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft property at the current rate, the total fees would be Rs 59,400.

Where can I find the Sub Registrar Office for Lakeview (Koladi)?

The Sub Registrar Office for Lakeview (Koladi) is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.