Guideline Value for Lake View Garden

Lake View Garden guideline value

The current guideline value of Lake View Garden, located in Pothur village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Lake View Garden has changed

The guideline value of Lake View Garden has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 268 per sq.ft. This increased to Rs 400 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the value increase to Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pothur

In Pothur, there are 98 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 2,000 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Lake View Garden is below this median.

• Lakshmi Nagar: Rs 440 per sq.ft (2024)
• Lakshmi Nagar Extension: Rs 550 per sq.ft (2024)
• K.S.P Nagar: Rs 550 per sq.ft (2024)
• Kirubai Nagar: Rs 550 per sq.ft (2024)
• K.C.R . Nagar: Rs 550 per sq.ft (2024)
• Mathuvacharya Nagar: Rs 550 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total fees together Rs 39,600. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Pothur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Lake View Garden?

The current guideline value of Lake View Garden is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

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

Other streets in Pothur include Lakshmi Nagar at Rs 440 per sq.ft, Lakshmi Nagar Extension, K.S.P Nagar, Kirubai Nagar, K.C.R . Nagar, and Mathuvacharya Nagar, all at Rs 550 per sq.ft as per the 2024 revision.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,40,000, the stamp duty at 7% would be Rs 30,800.