Guideline Value for N Block, 6th Avenue, Lotus Victory, Lotus Krishna,Lotus Colony N- Block, 6th Avenue 1270, 3611 E, F Lotus Victory, Lotus Krishna, Lotus Colony

N Block, 6th Avenue, Lotus Victory, Lotus Krishna,Lotus Colony N- Block, 6th Avenue 1270, 3611 E, F Lotus Victory, Lotus Krishna, Lotus Colony guideline value

The current guideline value for N Block, 6th Avenue, Lotus Victory, Lotus Krishna,Lotus Colony N- Block, 6th Avenue 1270, 3611 E, F Lotus Victory, Lotus Krishna, Lotus Colony is Rs 14,800 per sq.ft, effective from 1 July 2024. This property is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification is Mixed Special Type - I.

How the guideline value of N Block, 6th Avenue, Lotus Victory, Lotus Krishna,Lotus Colony N- Block, 6th Avenue 1270, 3611 E, F Lotus Victory, Lotus Krishna, Lotus Colony has changed

The guideline value for this property has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 11,000 per sq.ft. In 2012, it increased to Rs 13,500 per sq.ft, marking a rise of 23%. However, in 2017, it dropped to Rs 9,045 per sq.ft, a decrease of 33%. The value then rose significantly to Rs 13,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 14,800 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 35%.

Guideline values in Ayanavaram

The guideline values in Ayanavaram show a range from Rs 2,700 to Rs 20,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for N Block, 6th Avenue, Lotus Victory, Lotus Krishna,Lotus Colony is above this median, indicating a higher valuation compared to many other streets in the area.

• N- Block, 27th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 26th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 25th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 24th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 23rd Street: Rs 11,000 per sq.ft (2024)
• N- Block, 22nd Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in N Block, 6th Avenue, Lotus Victory, Lotus Krishna,Lotus Colony N- Block, 6th Avenue 1270, 3611 E, F Lotus Victory, Lotus Krishna, Lotus Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 14,800 per sq.ft, the total guideline value amounts to Rs 1,48,00,000. The stamp duty at 7% would be Rs 10,36,000, and the registration fee at 2% would be Rs 2,96,000, resulting in a total cost of Rs 13,32,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers N Block, 6th Avenue, Lotus Victory, Lotus Krishna,Lotus Colony N- Block, 6th Avenue 1270, 3611 E, F Lotus Victory, Lotus Krishna, Lotus Colony?

The Sub Registrar Office that covers this property is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a buyer approaches the registration office, the guideline value is assessed against the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value for N Block, 6th Avenue?

The current guideline value for N Block, 6th Avenue, Lotus Victory, Lotus Krishna,Lotus Colony is Rs 14,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent increase of 10% from Rs 13,500 per sq.ft in 2023 to Rs 14,800 per sq.ft in 2024. The overall change from 2007 to 2024 is an increase of 35%.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 1,48,00,000, the stamp duty would be Rs 10,36,000 and the registration fee would be Rs 2,96,000, totaling Rs 13,32,000.

Which Sub Registrar Office should I visit for registration?

The AnnaNagar Sub Registrar Office is responsible for registrations in this area, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for this property?

The land classification for N Block, 6th Avenue, Lotus Victory, Lotus Krishna,Lotus Colony is Mixed Special Type - I.