Guideline Value for Lakeview Road 2nd Lane (W.M)

Lakeview Road 2nd Lane (W.M) guideline value

The current guideline value of Lakeview Road 2nd Lane (W.M) is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO and is classified as Residential Class II Type - III.

How the guideline value of Lakeview Road 2nd Lane (W.M) has changed

The guideline value for Lakeview Road 2nd Lane (W.M) has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, where the guideline value was Rs 1,860 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in the 2012 revision, marking a change of +196%. The most recent revision in 2024 set the guideline value at Rs 6,000 per sq.ft, reflecting a +9% increase from the 2012 figure.

There are no recorded figures for the years 2023, 2017, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by +223%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Lakeview Road 2nd Lane (W.M) above this median.

• Lake View Road Extension (W.M): Rs 6,600 per sq.ft (2024)
• Lake View Road (W.M): Rs 6,600 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 Lakeview Road 2nd Lane (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty is charged at 7%, resulting in Rs 4,20,000, while the registration fee is 2%, amounting to Rs 1,20,000. Together, the total cost for stamp duty and registration fee is Rs 5,40,000. Please note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakeview Road 2nd Lane (W.M)?

The Sub Registrar Office that covers Lakeview Road 2nd Lane (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during property registration.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Lakeview Road 2nd Lane (W.M)?

The current guideline value of Lakeview Road 2nd Lane (W.M) is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,860 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2012, and then to Rs 6,000 per sq.ft in 2024. The overall increase from 2007 to 2024 is +223%.

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

Other streets in Kodambakkam include Lake View Road Extension (W.M) and Lake View Road (W.M), both at Rs 6,600 per sq.ft. Other streets have values ranging from Rs 3,300 to Rs 4,100 per sq.ft.

Where is the Sub Registrar Office for Lakeview Road 2nd Lane (W.M)?

The Sub Registrar Office for Lakeview Road 2nd Lane (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 60,00,000, the stamp duty at 7% would be Rs 4,20,000.