Guideline Value for Lake Street (Erikkarai Street)(N.P)

Lake Street (Erikkarai Street)(N.P) guideline value

The current guideline value for Lake Street (Erikkarai Street)(N.P) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Lake Street (Erikkarai Street)(N.P) has changed

The guideline value for Lake Street (Erikkarai Street)(N.P) has seen a revision from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. The register has no figure for this street for the years 2023, 2017, 2007, 2003, and 2002.

In the 2012 revision, the value was Rs 3,000 per sq.ft. The current guideline value of Rs 3,300 per sq.ft represents a significant change over the years, reflecting the updates made in the 2024 revision.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Lake Street (Erikkarai Street)(N.P) is below this median.

• Lakeview Road 2nd Lane (W.M): Rs 6,000 per sq.ft (2024)
• Lake View Road Extension (W.M): Rs 6,600 per sq.ft (2024)
• Lake View Road (W.M): Rs 6,600 per sq.ft (2024)
• Lakshmanan Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Lakshmi Ammal Street Block 80: Rs 4,100 per sq.ft (2024)
• Kuthadum Pillaiyar Koil Steet: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Lake Street (Erikkarai Street)(N.P)

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lake Street (Erikkarai Street)(N.P)?

The Sub Registrar Office that covers Lake Street (Erikkarai Street)(N.P) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This value is essential for calculating the applicable duties and fees during the transaction.

Frequently asked questions

What is the current guideline value for Lake Street (Erikkarai Street)(N.P)?

The current guideline value for Lake Street (Erikkarai Street)(N.P) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification for Lake Street (Erikkarai Street)(N.P)?

Lake Street (Erikkarai Street)(N.P) is classified as Residential Class IV Type - II. This classification is important for understanding the zoning and permissible uses of the property.

What are the guideline values for other streets in Kodambakkam?

Other streets in Kodambakkam have varying guideline values, with rates ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, while Lake Street (Erikkarai Street)(N.P) is below this median.

Where can I find the Sub Registrar Office for Lake Street (Erikkarai Street)(N.P)?

The Ashok Nagar Sub Registrar Office covers Lake Street (Erikkarai Street)(N.P) and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find your SRO using the provided link.