Guideline Value for A.R.N. NAGAR

A.R.N. Nagar guideline value

The current guideline value of A.R.N. Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam SRO, classified as Residential Class I Type - III.

How the guideline value of A.R.N. Nagar has changed

The guideline value of A.R.N. Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 101 per sq.ft, which increased significantly to Rs 375 per sq.ft in 2007. This was followed by a substantial rise to Rs 2,500 per sq.ft in 2012, but then it decreased to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023 and finally reached Rs 2,700 per sq.ft in 2024. Notably, there is no figure for this street in the 2003 revision.

Between these revisions, the changes were quite remarkable. From 2002 to 2007, there was an increase of 271%. The value then surged by 567% from 2007 to 2012. However, from 2012 to 2017, there was a decline of 33%. The value increased by 49% from 2017 to 2023, and finally, there was an 8% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 2573%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing A.R.N. Nagar's 2024 figure above that median.

• A.R.N. Nagar Annexe: Rs 2,700 per sq.ft (2024)
• Ashok Nagar: Rs 1,300 per sq.ft (2024)
• Anugraha Apartments: Rs 2,500 per sq.ft (2024)
• Antony Street: Rs 1,300 per sq.ft (2024)
• Annai Therasa Nagar: Rs 1,300 per sq.ft (2024)
• Annai Nagar/Streets: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers A.R.N. Nagar?

The Sub Registrar Office that covers A.R.N. Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. Buyers and sellers should be aware of the current guideline value to ensure they comply with the regulations set by the Registration Department.

Frequently asked questions

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

The current guideline value of A.R.N. Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 101 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 2573% over this period.

Which Sub Registrar Office covers this area?

The Villivakkam Sub Registrar Office covers A.R.N. Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for property in A.R.N. Nagar?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

What is the land classification of A.R.N. Nagar?

A.R.N. Nagar is classified as Residential Class I Type - III, which indicates its designation for residential purposes under the local regulations.