Guideline Value for A.P. Arasu 1st Lane

A.P. Arasu 1st Lane guideline value

The current guideline value of A.P. Arasu 1st Lane is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of A.P. Arasu 1st Lane has changed

Over the years, the guideline value of A.P. Arasu 1st Lane has undergone several revisions. The 2012 revision set the value at Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in the 2017 revision. However, the 2023 revision increased it to Rs 2,300 per sq.ft, and the latest revision in 2024 has further raised it to Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. In contrast, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. A.P. Arasu 1st Lane's 2024 figure aligns exactly with this median.

• A.P. Arasu 1st Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 2nd Lane: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 2nd Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 3rd Cross Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 3rd Lane: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 3rd Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in A.P. Arasu 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. 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 details.

Which Sub Registrar Office covers A.P. Arasu 1st Lane?

The A.P. Arasu 1st Lane falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property in Erukancherry, as it determines the minimum price at which a property can be sold or bought. This value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded officially and accurately.

When buying or selling property, it is essential to be aware of the current guideline value to avoid any discrepancies during the registration process. This ensures compliance with local regulations and helps in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value for A.P. Arasu 1st Lane?

The current guideline value for A.P. Arasu 1st Lane is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with a decrease from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, followed by an increase to Rs 2,300 in 2023 and Rs 2,500 in 2024.

What are the stamp duty and registration fees for property in A.P. Arasu 1st Lane?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,25,000.

Which office handles registrations for A.P. Arasu 1st Lane?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, handles registrations for A.P. Arasu 1st Lane.

What is the land classification for A.P. Arasu 1st Lane?

A.P. Arasu 1st Lane is classified as Residential Class III Type - I, indicating its suitability for residential purposes.