Guideline Value for A.R.Rahman Nagar

A.R.Rahman Nagar guideline value

The current guideline value of A.R.Rahman Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Thirumudivakkam village under the Padappai SRO, classified as Residential Special Type - I.

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

The guideline value for A.R.Rahman Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 804 per sq.ft. In the 2023 revision, the value increased to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. However, from the 2012 to 2017 revision, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,860 per sq.ft, with the median value being Rs 1,320 per sq.ft. A.R.Rahman Nagar's 2024 figure aligns with this median.

• Arunagiri Nagar: Rs 880 per sq.ft (2024)
• Astalakshmi Nagar: Rs 880 per sq.ft (2024)
• Anna Baba Nagar: Rs 880 per sq.ft (2024)
• Bajanai Koil Street: Rs 880 per sq.ft (2024)
• Amarprakash Developers: Rs 1,320 per sq.ft (2024)
• Aditya Industrial Park: Rs 1,930 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value is Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers A.R.Rahman Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumudivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the value of the property being transferred.

Frequently asked questions

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

The current guideline value of A.R.Rahman Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent increase of 10% from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What are the other streets in Thirumudivakkam?

Other streets in Thirumudivakkam include Arunagiri Nagar, Astalakshmi Nagar, Anna Baba Nagar, Bajanai Koil Street, Amarprakash Developers, and Aditya Industrial Park, with varying guideline values.

What is the stamp duty rate for properties in A.R.Rahman Nagar?

The stamp duty rate for properties in A.R.Rahman Nagar is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

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

The Sub Registrar Office for A.R.Rahman Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.