Guideline Value for A.P. Arasu 3rd Cross Street

A.P. Arasu 3rd Cross Street guideline value

The current guideline value of A.P. Arasu 3rd Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of A.P. Arasu 3rd Cross Street has changed

The guideline value for A.P. Arasu 3rd Cross Street 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. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023, and most recently, it has been revised to Rs 2,500 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 9% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 current guideline value of A.P. Arasu 3rd Cross Street.

• A.P. Arasu 2nd Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 3rd Lane: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 2nd Lane: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 3rd Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 1st Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 4th Lane: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in A.P. Arasu 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value, the total 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers A.P. Arasu 3rd Cross Street?

The A.P. Arasu 3rd Cross Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Erukancherry. It determines the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of A.P. Arasu 3rd Cross Street?

The current guideline value of A.P. Arasu 3rd Cross Street 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 from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the stamp duty for property in A.P. Arasu 3rd Cross Street?

The stamp duty for property in A.P. Arasu 3rd Cross Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, this amounts to Rs 1,75,000.

Which office handles registrations for A.P. Arasu 3rd Cross Street?

The Madhavaram Sub Registrar Office handles registrations for A.P. Arasu 3rd Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for A.P. Arasu 3rd Cross Street?

A.P. Arasu 3rd Cross Street is classified as Residential Class III Type - I, which indicates its suitability for residential development.