Guideline Value for Lake Avenue

Lake Avenue guideline value

The current guideline value of Lake Avenue in Nenmeli village under the Chengleput Joint I SRO is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Lake Avenue has changed

The guideline value for Lake Avenue has remained consistent over the years. The 2024 revision is Rs 800 per sq.ft, which is the same as the 2023 revision. Similarly, the 2017 revision also recorded a guideline value of Rs 800 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, there has been no change in the guideline value, maintaining a steady rate of Rs 800 per sq.ft across the last few revisions.

Guideline values in Nenmeli

In Nenmeli, there are 53 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 612 per sq.ft. Lake Avenue's 2024 figure of Rs 800 per sq.ft is above this median.

• Kumarasamy Nagar: Rs 500 per sq.ft (2024)
• Kumarasami Nagar Part - II: Rs 500 per sq.ft (2024)
• M.V.R.Garden: Rs 1,045 per sq.ft (2024)
• Nbj Avenue: Rs 1,195 per sq.ft (2024)
• Nsr காலனி: Rs 612 per sq.ft (2024)
• Ford Union City: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Lake Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, resulting in a total of Rs 72,000. 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 further calculations.

Which Sub Registrar Office covers Lake Avenue?

The Sub Registrar Office that covers Lake Avenue is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Nenmeli

The guideline value is a crucial factor in the registration process for property transactions in Nenmeli. It determines the amount of stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value serves as a reference point, ensuring that the transaction value is appropriately assessed for tax purposes. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Lake Avenue?

The current guideline value of Lake Avenue is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Lake Avenue has remained unchanged at Rs 800 per sq.ft from 2017 to 2024, with no figures available for the years 2002, 2003, 2007, and 2012.

What is the land classification for Lake Avenue?

The land classification for Lake Avenue is Mixed Type - II, indicating the diverse usage of land in this area.

What are the stamp duty and registration fees for properties in Lake Avenue?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Lake Avenue?

The Chengleput Joint I Sub Registrar Office handles property registrations for Lake Avenue, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.