Guideline Value for Lake View Gardens

Lake View Gardens guideline value

The current guideline value of Lake View Gardens is Rs 700 per sq.ft, effective from 1 July 2024. This property is located in Sriperumbudur A village, under the Sriperumpudur SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Lake View Gardens has changed

The guideline value for Lake View Gardens has seen several revisions over the years. The register shows that there was no figure for this street in the years 2002, 2003, 2007, and 2012. In the 2017 revision, the guideline value was set at Rs 469 per sq.ft. This figure remained unchanged at Rs 700 per sq.ft in the 2023 revision and continued to be Rs 700 per sq.ft in the 2024 revision, reflecting a 49% increase from 2017 to 2023 and maintaining the same value from 2023 to 2024.

Overall, from 2017 to 2024, the guideline value has increased by 49%. The consistent value of Rs 700 per sq.ft in both the 2023 and 2024 revisions indicates stability in the guideline value for this street during this period.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median value is Rs 700 per sq.ft, which is the same as the guideline value for Lake View Gardens.

• Kuya Street: Rs 1,200 per sq.ft (2024)
• Lakshmi Nagar: Rs 700 per sq.ft (2024)
• Kuppu Mudali Street: Rs 700 per sq.ft (2024)
• Lancor: Rs 700 per sq.ft (2024)
• Le Waterina Resorts: Rs 800 per sq.ft (2024)
• Kulasekara Perumal Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Lake View Gardens

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost for these fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lake View Gardens?

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

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

The guideline value is a critical factor in the registration process when buying or selling property in Sriperumbudur A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Lake View Gardens?

The current guideline value for Lake View Gardens is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value for Lake View Gardens increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in both 2023 and 2024, marking a 49% increase overall from 2017 to 2024.

What is the land classification for Lake View Gardens?

Lake View Gardens is classified as Residential Class III Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property in Lake View Gardens?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Lake View Gardens?

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