Guideline Value

Corporate

Guideline Value for LOTUS COLONY (NANDANAM)

₹5830/sq.ft.

The guideline value for Lotus Colony (nandanam) in Government Farm village (Chennai South Joint I SRO, Chennai zone) is Rs 5830 per sq.ft, effective 1 July 2024. It was Rs 5300 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Government Farm

Village

Chennai South Joint I

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹5830 /sq.ft.
From 1-4-2023 ₹5300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3551 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5300 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹2014 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹1784 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[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 Lotus Colony (nandanam)

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Lotus Colony (Nandanam) guideline value

The current guideline value for Lotus Colony (Nandanam) is Rs 5,830 per sq.ft, effective from 1 July 2024. This area falls under the Government farm village and is classified as Residential Class III Type - I, within the Chennai South Joint I SRO.

How the guideline value of Lotus Colony (Nandanam) has changed

The guideline value for Lotus Colony (Nandanam) has seen several revisions over the years. The earliest recorded figure is from 2002, at Rs 1,784 per sq.ft. This increased to Rs 2,014 per sq.ft in 2003, marking a 13% rise. By 2007, the value further increased to Rs 2,500 per sq.ft, a growth of 24%. The 2012 revision saw a significant jump to Rs 5,300 per sq.ft, reflecting a 112% increase. However, this was followed by a decrease to Rs 3,551 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 5,300 per sq.ft in 2023, before reaching the current rate of Rs 5,830 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 227%. It is important to note that the register has no figure for the years between 2012 and 2017 for this street.

Guideline values in Government farm

In the Government farm village, there are 35 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,850 to Rs 15,400 per sq.ft. The median value for these streets is Rs 8,250 per sq.ft, placing Lotus Colony (Nandanam) below this median.

Stamp duty and registration fee for property in Lotus Colony (Nandanam)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,830 per sq.ft, the total guideline value would be Rs 58,30,000. The stamp duty at 7% would amount to Rs 4,08,100, and the registration fee at 2% would be Rs 1,16,600, leading to a total cost of Rs 5,24,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Lotus Colony (Nandanam)?

The Sub Registrar Office that covers Lotus Colony (Nandanam) is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Government farm. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Lotus Colony (Nandanam)?

The current guideline value for Lotus Colony (Nandanam) is Rs 5,830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,784 per sq.ft in 2002 to Rs 5,830 per sq.ft in 2024, reflecting an overall increase of 227% over this period.

What is the classification of land in Lotus Colony (Nandanam)?

Lotus Colony (Nandanam) is classified as Residential Class III Type - I under the Chennai South Joint I SRO.

How is the stamp duty calculated for properties in Lotus Colony (Nandanam)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 58,30,000, the stamp duty at 7% would be Rs 4,08,100.

Where can I find the Sub Registrar Office for Lotus Colony (Nandanam)?

The Sub Registrar Office for Lotus Colony (Nandanam) is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.