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Guideline Value

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Guideline Value for lake Area 7th Cross Street

₹8800/sq.ft.

The guideline value for Lake Area 7th Cross Street in Nungambakkam village (Chennai Central Joint Ii SRO, Chennai zone) is Rs 8800 per sq.ft, effective 1 July 2024. It was Rs 8000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nungambakkam

Village

Chennai Central Joint II

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹8800 /sq.ft.
From 1-4-2023 ₹8000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹5360 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹8000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹3000 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony ,cresent Street Alwarpet,chennai -600018
044-24331038
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Lake Area 7th Cross Street

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lake Area 7th Cross Street guideline value

The current guideline value of lake Area 7th Cross Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village, under the Chennai Central Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of lake Area 7th Cross Street has changed

In the 2007 revision, the guideline value was Rs 3,000 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in the 2012 revision, marking a rise of 167%. However, the value dropped to Rs 5,360 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision set the value at Rs 8,000 per sq.ft, and the latest 2024 revision increased it to Rs 8,800 per sq.ft, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, which is equal to the 2024 guideline value of lake Area 7th Cross Street.

Stamp duty and registration fee for property in lake Area 7th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. 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 Area 7th Cross Street?

The Sub Registrar Office that covers lake Area 7th Cross Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Nungambakkam. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of lake Area 7th Cross Street?

The current guideline value of lake Area 7th Cross Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 3,000 per sq.ft in 2007, increasing to Rs 8,000 in 2012, dropping to Rs 5,360 in 2017, and finally reaching Rs 8,800 in 2024.

What is the land classification for lake Area 7th Cross Street?

lake Area 7th Cross Street is classified as Residential Special Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for lake Area 7th Cross Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 at a rate of 7%.