Guideline Value for A.P. Arasu 2nd Lane

A.P. Arasu 2nd Lane guideline value

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

How the guideline value of A.P. Arasu 2nd Lane has changed

The guideline value for A.P. Arasu 2nd Lane has seen several revisions over the years. In 2012, the guideline value was Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in 2017. This was a significant drop of 33%. However, from 2017 to 2023, the value increased by 49%, reaching Rs 2,300 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

The register does not have figures for the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, 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. The median value for these streets is Rs 2,500 per sq.ft, which is equal to the guideline value of A.P. Arasu 2nd Lane.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total fees together 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 precise calculations.

Which Sub Registrar Office covers A.P. Arasu 2nd Lane?

The A.P. Arasu 2nd Lane falls under 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 Erukancherry

The guideline value is an essential factor in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that transactions are in compliance with government regulations.

When a property is sold, the guideline value helps establish the minimum price at which the property can be registered. This means that buyers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of A.P. Arasu 2nd Lane?

The current guideline value of A.P. Arasu 2nd 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 from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification of A.P. Arasu 2nd Lane?

A.P. Arasu 2nd Lane is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in A.P. Arasu 2nd Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at 7%.