Guideline Value for LOTUS AVENUE

Lotus Avenue guideline value

The current guideline value of Lotus Avenue in Paruthipattu village is Rs 1,625 per sq.ft, effective from 1 July 2024. This area falls under the Avadi Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Lotus Avenue has changed

Over the years, the guideline value of Lotus Avenue has experienced significant changes. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a substantial increase of 87%, raising the value to Rs 1,500 per sq.ft. The most recent revision in 2024 saw another increase of 8%, bringing the current value to Rs 1,625 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 35%.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 801 to Rs 4,730 per sq.ft. The median value is Rs 1,625 per sq.ft, which is equal to the guideline value of Lotus Avenue.

• Lakshmipuram,Govarthanagiri: Rs 1,625 per sq.ft (2024)
• Lakshmi Nagar Main Road: Rs 1,625 per sq.ft (2024)
• Lakshmi Nagar, Govarthanagiri: Rs 1,625 per sq.ft (2024)
• Lakshmi Nagar 1st Street: Rs 950 per sq.ft (2024)
• Lakshmi Main Road: Rs 990 per sq.ft (2024)
• Lakshmi Green City Phase 1: Rs 1,540 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 1,625 per sq.ft, the total guideline value would be Rs 16,25,000. The stamp duty, charged at 7%, would amount to Rs 1,13,750, while the registration fee at 2% would be Rs 32,500. Together, the total cost for these fees would be Rs 1,46,250. 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?

The Sub Registrar Office that covers Lotus Avenue is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Paruthipattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Lotus Avenue?

The current guideline value of Lotus Avenue is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,200 per sq.ft in 2012 to Rs 1,625 per sq.ft in 2024, with notable increases and decreases in between.

What is the land classification for Lotus Avenue?

Lotus Avenue is classified as Residential Special Type - I under the Avadi SRO.

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

For a property valued at Rs 16,25,000, the stamp duty would be Rs 1,13,750 and the registration fee would be Rs 32,500, totaling Rs 1,46,250.

Which Sub Registrar Office covers Lotus Avenue?

The Avadi Sub Registrar Office covers Lotus Avenue, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.