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Guideline Value

Corporate

Guideline Value for Lotus Colony 1st St (Ward-11)

₹3000/sq.ft.

The guideline value for Lotus Colony 1st St (ward-11) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 3000 per sq.ft, effective 1 July 2024. It was Rs 2800 per sq.ft from 1 April 2023, a 7% change. The land classification is Commercial Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Commercial Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹3000 /sq.ft.
From 1-4-2023 ₹2800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1876 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2800 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[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 1st St (ward-11)

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Lotus Colony 1st St (Ward-11) guideline value

The current guideline value of Lotus Colony 1st St (Ward-11) is Rs 3,000 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Commercial Class I Type - II.

How the guideline value of Lotus Colony 1st St (Ward-11) has changed

The guideline value for Lotus Colony 1st St (Ward-11) has undergone several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, and finally, it rose to Rs 3,000 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value across these streets is Rs 1,600 per sq.ft, indicating that Lotus Colony 1st St (Ward-11) is above this median with its current value of Rs 3,000 per sq.ft.

Stamp duty and registration fee for property in Lotus Colony 1st St (Ward-11)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value would be Rs 30,00,000. The stamp duty at 7% would amount to Rs 2,10,000, while the registration fee at 2% would be Rs 60,000, leading to a total of Rs 2,70,000. It is essential 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 Colony 1st St (Ward-11)?

The Sub Registrar Office that covers Lotus Colony 1st St (Ward-11) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to assess the applicable stamp duty. This ensures that the registration process reflects the true value of the transaction, according to the established guidelines.

Frequently asked questions

What is the current guideline value of Lotus Colony 1st St (Ward-11)?

The current guideline value of Lotus Colony 1st St (Ward-11) is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the land classification of Lotus Colony 1st St (Ward-11)?

Lotus Colony 1st St (Ward-11) is classified as Commercial Class I Type - II.

What are the guideline values of other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, with Lotus Colony 2nd St, 3rd St, and Lotus Colony itself all at Rs 3,000 per sq.ft in 2024, while Logammal Nagar and L.N.P. Koil St are at Rs 1,300 per sq.ft.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.