Guideline Value for LOTUS AVENUE

Lotus Avenue guideline value

The current guideline value of Lotus Avenue is Rs 800 per sq.ft, as per the 2023 revision. This street is located in Thaiyur-A village under the Thiruporur SRO, and it falls under the Residential Special Type - III land classification.

How the guideline value of Lotus Avenue has changed

In the 2017 revision, the guideline value for Lotus Avenue was Rs 536 per sq.ft. This was a notable increase from the previous revisions, which have no figures available for the years 2002, 2003, 2007, and 2012. From 2017 to 2023, the guideline value saw a significant increase of 49%, reaching the current rate of Rs 800 per sq.ft.

The register has no figure for the 2024 revision. Therefore, the most recent guideline value remains Rs 800 per sq.ft from the 2023 revision, reflecting the latest update for this street.

Guideline values in Thaiyur-A

No specific village figures are provided for Thaiyur-A, and Lotus Avenue is the only street discussed in this context. Below are the other streets in Thaiyur-A under the Thiruporur SRO:

Stamp duty and registration fee for property in Lotus Avenue

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty, charged at 7%, would be Rs 56,000, and the registration fee, charged at 2%, would be Rs 16,000. Together, these fees total Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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.

For further assistance, you can find your SRO online.

How the guideline value is used when you buy or sell in Thaiyur-A

The guideline value is a crucial factor when registering property transactions in Thaiyur-A, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the higher of the guideline value or the sale price is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Lotus Avenue?

The current guideline value of Lotus Avenue is Rs 800 per sq.ft, as per the 2023 revision.

How much has the guideline value changed over the years?

The guideline value increased from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023, marking a 49% increase. There are no figures available for the revisions in 2002, 2003, 2007, and 2012.

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

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000. These fees are based on the guideline value or sale price, whichever is higher.

Which office handles registrations for Lotus Avenue?

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

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register, which is updated periodically. The current value reflects the latest assessment of property values in the area.