Guideline Value for A.P. Arasu 3rd Street

A.P. Arasu 3rd Street guideline value

The current guideline value of A.P. Arasu 3rd Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street 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 3rd Street has changed

The guideline value for A.P. Arasu 3rd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,500 per sq.ft, an increase of 9% from the 2023 revision of Rs 2,300 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,541 per sq.ft, marking a significant increase of 49% from 2017 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.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with 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 the same as the current guideline value for A.P. Arasu 3rd Street.

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

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

For a 1,000 sq.ft plot at the current rate of Rs 2,500 per sq.ft, the 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 fees together to Rs 2,25,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

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

The A.P. Arasu 3rd Street is covered by 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 during the registration of property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of this value to avoid overpaying, while sellers can use it to set realistic price expectations.

Frequently asked questions

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

The current guideline value of A.P. Arasu 3rd 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 2023 to Rs 2,500 per sq.ft in 2024, an increase of 9%. It was Rs 1,541 per sq.ft in 2017, which increased by 49% to 2023.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 25,00,000, the total fees would amount to Rs 2,25,000.

Which office handles the registration for A.P. Arasu 3rd Street?

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

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

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