Guideline Value for Lake Park View I

Lake Park View I guideline value

The current guideline value of Lake Park View I in Perungalathur village is Rs 1,320 per sq.ft, effective from 1 July 2024. This property falls under the Padappai SRO and is classified as Residential Class IV Type - I.

How the guideline value of Lake Park View I has changed

The guideline value for Lake Park View I has undergone several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 804 per sq.ft. This increased to Rs 1,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 sees the value further increasing to Rs 1,320 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,310 per sq.ft, indicating that Lake Park View I's 2024 figure is below this median.

• Lake Park View II: Rs 1,320 per sq.ft (2024)
• Kurinji Nagar Extension: Rs 2,970 per sq.ft (2024)
• Kurinji Nagar: Rs 2,970 per sq.ft (2024)
• Kurinchi Nagar Saranga Avenue Link Road: Rs 3,960 per sq.ft (2024)
• Kundu Medu: Rs 1,980 per sq.ft (2024)
• Kumarappa Salai: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Lake Park View I

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Lake Park View I?

The Lake Park View I area falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Perungalathur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value as it can impact the overall cost of the transaction. The guideline value must be adhered to during registration to avoid any legal complications.

Frequently asked questions

What is the current guideline value for Lake Park View I?

The current guideline value for Lake Park View I is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 804 per sq.ft to Rs 1,320 per sq.ft in 2024, marking an overall increase of 64%.

What are the other streets with guideline values in Perungalathur?

Other streets in Perungalathur include Lake Park View II at Rs 1,320 per sq.ft, Kurinji Nagar Extension and Kurinji Nagar at Rs 2,970 per sq.ft, and others with varying rates up to Rs 3,960 per sq.ft.

What is the registration fee for property in Lake Park View I?

The registration fee for property in Lake Park View I is calculated at 2% of the guideline value. For a plot of 1,000 sq.ft, this would amount to Rs 26,400.

Where can I find the Sub Registrar Office for Lake Park View I?

The Sub Registrar Office covering Lake Park View I is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.