Guideline Value for Lotus Enclave

Lotus Enclave guideline value

The current guideline value of Lotus Enclave, located in Kanchivakkam village, is Rs 600 per sq.ft, effective from the 2024 revision. This property falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Lotus Enclave has changed

Over the years, the guideline value of Lotus Enclave has seen several revisions. The earliest available figure is from 2007, which was Rs 400 per sq.ft. This increased to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017. The value remained at Rs 600 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The overall change from 2007 to 2024 shows an increase of 50% in the guideline value.

Guideline values in Kanchivakkam

In Kanchivakkam, there are 23 streets under the Gooduvancheri SRO that have a guideline value for 2024, ranging from Rs 400 to Rs 600 per sq.ft. The median value for these streets is Rs 500 per sq.ft, making the guideline value of Lotus Enclave above this median.

• Kuberan Nagar: Rs 500 per sq.ft (2024)
• Media Quarters: Rs 400 per sq.ft (2024)
• Metro Corporate Residency: Rs 600 per sq.ft (2024)
• Kannan Nagar: Rs 600 per sq.ft (2024)
• Jayalakshmi Nagar Extention: Rs 600 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Lotus Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total cost for these fees Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lotus Enclave?

The Sub Registrar Office that covers Lotus Enclave is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process is aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value of Lotus Enclave?

The current guideline value of Lotus Enclave is Rs 600 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent figures being Rs 600 per sq.ft in both 2023 and 2024, and Rs 402 per sq.ft in 2017.

What are the other streets in Kanchivakkam with their guideline values?

Other streets in Kanchivakkam include Kuberan Nagar at Rs 500 per sq.ft, Media Quarters at Rs 400 per sq.ft, and several streets at Rs 600 per sq.ft, such as Metro Corporate Residency and Kannan Nagar.

What fees are involved when buying property in Lotus Enclave?

When buying property in Lotus Enclave, you will incur stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lotus Enclave?

The Sub Registrar Office for Lotus Enclave is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.