Guideline Value for Lake View Avenue

Lake View Avenue guideline value

The current guideline value of Lake View Avenue in Venkadu village is Rs 310 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class I Type - I.

How the guideline value of Lake View Avenue has changed

The guideline value for Lake View Avenue has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 35 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a rise of 757%. However, between 2012 and 2017, the value dropped to Rs 201 per sq.ft, a decrease of 33%. In 2023, the guideline value was Rs 300 per sq.ft, and it increased to Rs 310 per sq.ft in 2024, reflecting a 3% rise.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 786%. It is important to note that the register does not have figures for Lake View Avenue for the years 2002 and 2003.

Guideline values in Venkadu

In Venkadu, there are 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 471 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Lake View Avenue's 2024 figure above this median.

• Main Road: Rs 400 per sq.ft (2024)
• Mettu Street: Rs 300 per sq.ft (2024)
• Jeyam Nagar: Rs 300 per sq.ft (2024)
• Nadu Stretet: Rs 300 per sq.ft (2024)
• Om Sakthi Sri Ellaiamman Nagar: Rs 400 per sq.ft (2024)
• Othavadai Street: Rs 310 per sq.ft (2024)

Stamp duty and registration fee for property in Lake View Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 310 per sq.ft, the total guideline value would be Rs 3,10,000. The stamp duty at 7% would amount to Rs 21,700, and the registration fee at 2% would be Rs 6,200, totaling Rs 27,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lake View Avenue?

The Sub Registrar Office that covers Lake View Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Venkadu. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value serves as a benchmark for the minimum value at which properties can be registered.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Lake View Avenue?

The current guideline value of Lake View Avenue is Rs 310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 35 per sq.ft in 2007 to Rs 310 per sq.ft in 2024, reflecting an overall increase of 786% over the years.

What are the other streets in Venkadu with their guideline values?

Other streets in Venkadu include Main Road at Rs 400 per sq.ft, Mettu Street at Rs 300 per sq.ft, Jeyam Nagar at Rs 300 per sq.ft, Nadu Stretet at Rs 300 per sq.ft, Om Sakthi Sri Ellaiamman Nagar at Rs 400 per sq.ft, and Othavadai Street at Rs 310 per sq.ft.

How is stamp duty calculated for properties in Lake View Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 3,10,000, the stamp duty at 7% would be Rs 21,700.

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

The Sub Registrar Office for Lake View Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.