Guideline Value for A.P. Arasu 4th Lane

A.P. Arasu 4th Lane guideline value

The current guideline value of A.P. Arasu 4th Lane 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 4th Lane has changed

Over the years, the guideline value for A.P. Arasu 4th Lane has seen several revisions. The 2012 revision set the value at Rs 2,300 per sq.ft, which was then reduced to Rs 1,541 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 2,300 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,500 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The guideline value then increased by 9% from 2023 to 2024. Overall, the change from 2012 to 2024 reflects a modest increase of 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values 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 4th Lane.

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

Stamp duty and registration fee for property in A.P. Arasu 4th 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 cost to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers A.P. Arasu 4th Lane?

The A.P. Arasu 4th Lane is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Erukancherry. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a buyer decides to purchase a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of A.P. Arasu 4th Lane?

The current guideline value of A.P. Arasu 4th 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 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. The overall change from 2012 to 2024 is an increase of 9%.

What is the registration fee for property in A.P. Arasu 4th Lane?

The registration fee for property in A.P. Arasu 4th Lane is calculated at 2% of the guideline value. For a property valued at Rs 25,00,000, the registration fee would be Rs 50,000.

Which office handles the registration for A.P. Arasu 4th Lane?

The Madhavaram Sub Registrar Office handles the registration for A.P. Arasu 4th Lane. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it establishes the minimum value for property registration, ensuring that transactions are recorded at a fair value. It also determines the stamp duty and registration fees that must be paid during the transaction.