Guideline Value for A.P. Arasu 3rd Lane

A.P. Arasu 3rd Lane guideline value

The current guideline value of A.P. Arasu 3rd Lane is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

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

The guideline value for A.P. Arasu 3rd Lane has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,500 per sq.ft, an increase from Rs 2,300 per sq.ft in 2023, reflecting a change of +9%. Prior to that, the 2017 revision recorded a guideline value of Rs 1,541 per sq.ft, showing a significant increase of +49% from that year to 2023. The 2012 revision had a value of Rs 2,300 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +9%.

It is important to note that there are no recorded figures for the revisions in 2002, 2003, and 2007 for this street. The 2012 and 2017 revisions show fluctuations in the guideline value, while the most recent updates indicate a steady increase.

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 is Rs 2,500 per sq.ft, making A.P. Arasu 3rd Lane's current guideline value equal to this median.

• A.P. Arasu 3rd Cross Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 3rd Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 2nd Street: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 4th Lane: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 2nd Lane: Rs 2,500 per sq.ft (2024)
• A.P. Arasu 5th Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in A.P. Arasu 3rd 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 the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers A.P. Arasu 3rd Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Erukancherry, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the sale price is reflective of the area's market conditions. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

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

The current guideline value of A.P. Arasu 3rd 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 from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024, a change of +9%. It was Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012, showing various increases and decreases over the years.

What is the median guideline value in Erukancherry?

The median guideline value in Erukancherry is Rs 2,500 per sq.ft, with A.P. Arasu 3rd Lane's current value matching this median.

What fees are associated with buying property in A.P. Arasu 3rd Lane?

When buying property in A.P. Arasu 3rd Lane, you will incur stamp duty at 7% and a registration fee at 2% of the guideline value. For example, on a 1,000 sq.ft plot, these fees total Rs 2,25,000.

Where can I find the Sub Registrar Office for A.P. Arasu 3rd Lane?

The Sub Registrar Office for A.P. Arasu 3rd Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.