Guideline Value for A.R.R.AVENUE

A.R.R.Avenue guideline value

The current guideline value of A.R.R.Avenue is Rs 103 per sq.ft, effective from 1 July 2024. This street is located in Madurai village, under the Madurandakam SRO, and is classified as Residential Special Type - I.

How the guideline value of A.R.R.Avenue has changed

The guideline value for A.R.R.Avenue has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 75 per sq.ft. This figure was then adjusted to Rs 50 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the following revision in 2023 saw a significant increase to Rs 100 per sq.ft, which was a 100% rise from the 2017 figure. The most recent revision in 2024 brought the guideline value to Rs 103 per sq.ft, reflecting a 3% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for A.R.R.Avenue. Overall, from 2012 to 2024, the guideline value has increased by 37%.

Guideline values in Madurai

A.R.R.Avenue is part of the Madurai village under the Madurandakam SRO. While there are no specific village figures, it is important to note the guideline values of other streets in Madurai:

• A.R.R.Nagar: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in A.R.R.Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060. Together, the total cost for stamp duty and registration fee would be Rs 9,270. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers A.R.R.Avenue?

The Sub Registrar Office that covers A.R.R.Avenue is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madurai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction.

When a property is registered, 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, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of A.R.R.Avenue?

The current guideline value of A.R.R.Avenue is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification of A.R.R.Avenue?

A.R.R.Avenue is classified as Residential Special Type - I.

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

For a property valued at Rs 1,03,000, the stamp duty would be Rs 7,210, and the registration fee would be Rs 2,060, totaling Rs 9,270.

Which office handles the registration for A.R.R.Avenue?

The Madurandakam Sub Registrar Office handles the registration for A.R.R.Avenue, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.