Guideline Value for LOTUS AVENUE

Lotus Avenue guideline value

The current guideline value of Lotus Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Kannivakkam village under the Thiruporur SRO and is classified as Residential Class II Type - II.

How the guideline value of Lotus Avenue has changed

According to the register, there are no figures for Lotus Avenue for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

The 2024 revision maintains the same guideline value as the previous year, reflecting a 0% change from 2023 to 2024. This consistency suggests stability in the valuation for this street.

Guideline values in Kannivakkam

In Kannivakkam, there are 32 streets under the Thiruporur SRO with a 2024 guideline value ranging from Rs 450 to Rs 2,389 per sq.ft. The median guideline value for these streets is Rs 1,050 per sq.ft, placing Lotus Avenue's 2024 figure above this median.

• Kural Nagar: Rs 603 per sq.ft (2024)
• New Town: Rs 1,100 per sq.ft (2024)
• Omega Town 1: Rs 1,000 per sq.ft (2024)
• Omega Town 2: Rs 1,000 per sq.ft (2024)
• Ge Swarnaboomi & Ge Swargaboomi: Rs 800 per sq.ft (2024)
• Ge Mahathi Avenue II: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Lotus Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lotus Avenue?

The Sub Registrar Office that covers Lotus Avenue is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Kannivakkam. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Lotus Avenue?

The current guideline value of Lotus Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Lotus Avenue has remained at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, with no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Kannivakkam?

The median guideline value for streets in Kannivakkam is Rs 1,050 per sq.ft, which means that Lotus Avenue's guideline value is above this median.

What are the stamp duty and registration fees for property in Lotus Avenue?

For a 1,000 sq.ft plot at the guideline value of Rs 1,200 per sq.ft, the total guideline value is Rs 12,00,000. The stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which office handles registrations for Lotus Avenue?

The Thiruporur Sub Registrar Office handles registrations for Lotus Avenue, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.