Guideline Value for Lake side Phase-III

Lake side Phase-III guideline value

The current guideline value for Lake side Phase-III in Mudhukoor village, under the Sunguvarchattram SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Lake side Phase-III has changed

Over the years, the guideline value for Lake side Phase-III has undergone several revisions. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 150 per sq.ft, which increased to Rs 250 per sq.ft in the 2024 revision, marking a significant increase of 67%.

This change reflects the current valuation as of July 2024, indicating a notable adjustment in the guideline value for this street. The 2024 figure is higher than the median guideline value of Rs 200 per sq.ft for the 29 streets in Mudhukoor under the Sunguvarchattram SRO.

Guideline values in Mudhukoor

Mudhukoor village features a range of guideline values across its streets. The guideline value for Lake side Phase-III is above the median of Rs 200 per sq.ft. Below is a list of other streets in Mudhukoor and their respective 2024 guideline values:

• Lake Side: Rs 250 per sq.ft (2024)
• Kulakkarai Street: Rs 250 per sq.ft (2024)
• Kizhandai Vedhi: Rs 200 per sq.ft (2024)
• Mansarovar Phase-I: Rs 200 per sq.ft (2024)
• Mappedu Sellum Salai: Rs 200 per sq.ft (2024)
• Mariamman Kovil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Lake side Phase-III

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, which totals Rs 17,500, while the registration fee is 2%, amounting to Rs 5,000. Together, these fees come to Rs 22,500. 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 side Phase-III?

The Sub Registrar Office that covers Lake side Phase-III is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial aspect during property transactions in Mudhukoor. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the associated costs, such as stamp duty and registration fees. This ensures that the transaction is officially recognized and documented according to the prevailing regulations in the area.

Frequently asked questions

What is the current guideline value for Lake side Phase-III?

The current guideline value for Lake side Phase-III is Rs 250 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 150 per sq.ft in 2023 to Rs 250 per sq.ft in 2024, representing a 67% increase.

What is the land classification for Lake side Phase-III?

Lake side Phase-III falls under the Residential Class I Type - I land classification.

What are the stamp duty and registration fees for a property in Lake side Phase-III?

For a property valued at Rs 2,50,000, the stamp duty is Rs 17,500 and the registration fee is Rs 5,000, totaling Rs 22,500.

Which office handles property registrations for Lake side Phase-III?

The Sunguvarchattram Sub Registrar Office handles property registrations for Lake side Phase-III, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.