Guideline Value for LOTUS AVENUE PHASE -II

Lotus Avenue Phase -II guideline value

The current guideline value for Lotus Avenue Phase -II is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Ayappakkam village, under the Ambattur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Lotus Avenue Phase -II has changed

The guideline value for Lotus Avenue Phase -II has seen significant revisions over the years. The 2017 revision set the value at Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised this figure to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The changes between the revisions indicate a 49% increase from 2017 to 2023, reflecting a steady rise in the guideline value over the years.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, placing Lotus Avenue Phase -II's 2024 figure well above this median.

• Lotus Avenue: Rs 1,700 per sq.ft (2024)
• Lakshmi street(maruthiram nagar): Rs 1,100 per sq.ft (2024)
• Mahalakshmi street(Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Mahalingam Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Mannady Lane: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Lotus Avenue Phase -II

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value totals Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lotus Avenue Phase -II?

The Sub Registrar Office that covers Lotus Avenue Phase -II is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ayappakkam. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the sale price alone.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Understanding the guideline value can help in planning for the costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value for Lotus Avenue Phase -II?

The current guideline value for Lotus Avenue Phase -II is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the registration office for Lotus Avenue Phase -II?

The Ambattur Sub Registrar Office covers Lotus Avenue Phase -II, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur total fees of Rs 2,97,000.

Where can I find more information about the guideline values in Ayappakkam?

For more information about the guideline values in Ayappakkam, you can refer to the Registration Department's guideline value register (TNReginet) or consult the Ambattur Sub Registrar Office.