Guideline Value for A.P. Arasu Street

A.P. Arasu Street guideline value

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

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

Since the 2012 revision, the guideline value of A.P. Arasu Street has seen several changes. In 2012, the guideline value was Rs 2,300 per sq.ft. This decreased to Rs 1,541 per sq.ft in 2017, marking a significant reduction of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 2,300 per sq.ft. The latest revision in 2024 set the value at Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007. Therefore, the changes in guideline value are only noted from the revisions in 2012, 2017, 2023, and 2024.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have 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 guideline value for A.P. Arasu Street.

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

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 cost for these fees 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 precise calculations based on your property.

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

The A.P. Arasu Street is covered by 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

When buying or selling property in Erukancherry, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, ensuring that the government receives the appropriate revenue from property sales.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the property is registered at a value that reflects its worth according to government standards.

Frequently asked questions

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

The current guideline value of A.P. Arasu 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 increased 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 Street?

A.P. Arasu Street is classified as Residential Class III Type - I. This classification is important for determining the guidelines and regulations for property development in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations for the area, including A.P. Arasu Street.

How is stamp duty calculated for properties in A.P. Arasu Street?

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