Explore LandLens: verify, value, build-check, track & transact smarter

Guideline Value

Corporate

Guideline Value for Lotus Colony 2nd St (Ward-11)

₹3000/sq.ft.

The guideline value for Lotus Colony 2nd 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 2nd St (ward-11)

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Lotus Colony 2nd St (Ward-11) guideline value

The current guideline value of Lotus Colony 2nd St (Ward-11) is Rs 3,000 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Lotus Colony 2nd St (Ward-11) has changed

Looking at the historical revisions, the guideline value for Lotus Colony 2nd St (Ward-11) has seen several changes over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which then dropped to Rs 1,876 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value rebounded significantly to Rs 2,800 per sq.ft in 2023, before reaching the current rate of Rs 3,000 per sq.ft in 2024, reflecting a 7% increase from the previous year.

There are no available figures for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 7%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Lotus Colony 2nd St (Ward-11) is above this median, indicating a relatively higher valuation for this street.

Stamp duty and registration fee for property in Lotus Colony 2nd 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 amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, making the total charges Rs 2,70,000. 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 Colony 2nd St (Ward-11)?

The Sub Registrar Office that covers Lotus Colony 2nd St (Ward-11) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the property registration process in Madhavaram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, which are essential costs associated with property transactions.

It is important for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. The registration office will refer to the guideline value to ensure that the correct fees are applied during the registration process.

Frequently asked questions

What is the current guideline value of Lotus Colony 2nd St (Ward-11)?

The current guideline value of Lotus Colony 2nd 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 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 for Lotus Colony 2nd St (Ward-11)?

The land classification for Lotus Colony 2nd St (Ward-11) is Commercial Class I Type - II.

Where can I find the Sub Registrar Office for Lotus Colony 2nd St (Ward-11)?

The Sub Registrar Office for Lotus Colony 2nd St (Ward-11) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Lotus Colony 2nd St (Ward-11)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 30,00,000, the stamp duty would be Rs 2,10,000 at 7%.