Guideline Value for A.R.R.NAGAR

A.R.R.Nagar guideline value

The current guideline value of A.R.R.Nagar is Rs 103 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam Sub Registrar Office and is classified as Residential Special Type - I.

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

The guideline value of A.R.R.Nagar has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was set at Rs 75 per sq.ft. This was followed by a decrease to Rs 50 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 100 per sq.ft, reflecting a 100% rise. The latest revision in 2024 has further increased the guideline value to Rs 103 per sq.ft, a change of 3% from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 37%.

Guideline values in Madurai

A.R.R.Nagar is part of the Madurai area, which has various streets under the Madurandakam SRO. The guideline value for A.R.R.Avenue is also Rs 103 per sq.ft as of 2024.

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

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

For a 1,000 sq.ft plot at the current rate of Rs 103 per sq.ft, the guideline value would be 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, bringing the total to 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 information, you can use the stamp duty and registration fee calculator.

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

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

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

The guideline value plays a crucial role in the registration process of property transactions in Madurai. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid to the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. This value ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of A.R.R.Nagar 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 increased 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.Nagar?

A.R.R.Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for A.R.R.Nagar?

The Madurandakam Sub Registrar Office, which covers A.R.R.Nagar, is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in A.R.R.Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 7,210.