Guideline Value for A.R.K. Vigneshwar Nagar

A.R.K. Vigneshwar Nagar guideline value

The current guideline value of A.R.K. Vigneshwar Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Sirukalathur village under the Kunrathur SRO, classified as Residential Class I Type - II.

How the guideline value of A.R.K. Vigneshwar Nagar has changed

The guideline value for A.R.K. Vigneshwar Nagar has seen several revisions over the years. Starting from Rs 28 per sq.ft in 2003, it increased to Rs 100 per sq.ft in 2007, followed by a significant jump to Rs 450 per sq.ft in 2012. However, it dropped to Rs 301 per sq.ft in 2017 before rising to Rs 450 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 500 per sq.ft, marking an increase of 11% from the previous year.

To summarize the changes: from 2003 to 2007, the value increased by 257%; from 2007 to 2012, it rose by 350%; then it decreased by 33% from 2012 to 2017; it increased by 50% from 2017 to 2023; and finally, it increased by 11% from 2023 to 2024. The overall increase from 2003 to 2024 stands at 1686%. The register has no figure for the year 2002 for this street.

Guideline values in Sirukalathur

In Sirukalathur, there are 32 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 450 to Rs 2,970 per sq.ft, with a median value of Rs 550 per sq.ft. A.R.K. Vigneshwar Nagar's current guideline value is below this median.

• Asd Mahathma Gandhi Nagar: Rs 650 per sq.ft (2024)
• Bavani Amman Nagar: Rs 500 per sq.ft (2024)
• Aariya Enclave: Rs 550 per sq.ft (2024)
• Bhavani Amman Nagar II: Rs 500 per sq.ft (2024)
• Bhavani Nagar & II: Rs 500 per sq.ft (2024)
• Eathen Garden: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in A.R.K. Vigneshwar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers A.R.K. Vigneshwar Nagar?

The Sub Registrar Office that covers A.R.K. Vigneshwar Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sirukalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the market standards for property pricing. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of A.R.K. Vigneshwar Nagar?

The current guideline value of A.R.K. Vigneshwar Nagar is Rs 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 28 per sq.ft in 2003 to Rs 500 per sq.ft in 2024, with various increases and decreases over the years.

What is the stamp duty for a property in A.R.K. Vigneshwar Nagar?

The stamp duty for a property in A.R.K. Vigneshwar Nagar is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for A.R.K. Vigneshwar Nagar?

The Kunrathur Sub Registrar Office handles registrations for A.R.K. Vigneshwar Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of A.R.K. Vigneshwar Nagar?

A.R.K. Vigneshwar Nagar is classified as Residential Class I Type - II under the guideline value register.