Guideline Value for Lake View Road Extension (W.M)

Lake View Road Extension (W.M) guideline value

The current guideline value of Lake View Road Extension (W.M) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class II Type - II.

How the guideline value of Lake View Road Extension (W.M) has changed

Over the years, the guideline value of Lake View Road Extension (W.M) has seen significant changes. The 2007 revision set the value at Rs 1,860 per sq.ft, which increased to Rs 6,000 per sq.ft in the 2012 revision, marking a substantial rise of 223%. The latest revision in 2024 has set the value at Rs 6,600 per sq.ft, reflecting a 10% increase from the 2012 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 255%. It is important to note that the register has no figures for the years 2002, 2003, 2017, and 2023 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, making the current value of Lake View Road Extension (W.M) above the median.

• Lake View Road (W.M): Rs 6,600 per sq.ft (2024)
• Lakeview Road 2nd Lane (W.M): Rs 6,000 per sq.ft (2024)
• Lakshmanan Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Lake Street (Erikkarai Street)(N.P): 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 View Road Extension (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost to Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lake View Road Extension (W.M)?

The Sub Registrar Office that covers Lake View Road Extension (W.M) is the Ashok Nagar Sub Registrar Office. The address is Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, located 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

When buying or selling property in Kodambakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a basis for calculating these fees, ensuring that the transaction is recorded accurately in the official registers.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. The guideline value can vary significantly between different streets, making it important to check the specific value for the property in question.

Frequently asked questions

What is the current guideline value of Lake View Road Extension (W.M)?

The current guideline value of Lake View Road Extension (W.M) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,860 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, representing a total increase of 255% over the years.

What is the land classification for Lake View Road Extension (W.M)?

Lake View Road Extension (W.M) is classified as Residential Class II Type - II.

Where can I find the registration office for Lake View Road Extension (W.M)?

The registration office for Lake View Road Extension (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.