Guideline Value for Lake View Garden

Lake View Garden guideline value

The current guideline value of Lake View Garden is Rs 2,400 per sq.ft, effective from 1 July 2024. This property is located in Thirumullaivoyal village, under the Ambattur Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Lake View Garden has changed

The guideline value for Lake View Garden has undergone several revisions over the years. In 2012, the value was set at Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,200 per sq.ft in 2023, and it further rose to Rs 2,400 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with the 2024 guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which is the same as the guideline value for Lake View Garden.

• Kurunthogai Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Kurinji Street (Vivekananda nagar): Rs 2,700 per sq.ft (2024)
• Kurinji Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Kumaran Street (Devi Nagar): Rs 2,400 per sq.ft (2024)
• Kumaran Nagar: Rs 990 per sq.ft (2024)
• Lalithambal Nagar: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Lake View Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lake View Garden?

The Sub Registrar Office that covers Lake View Garden is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value will be used to calculate the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Lake View Garden?

The current guideline value of Lake View Garden is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification for Lake View Garden?

Lake View Garden is classified as Residential Class I Type - I according to the land classification standards.

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

The Sub Registrar Office covering Lake View Garden is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at the rate of 7%.