Guideline Value for A.R.S. NAGAR

A.R.S. Nagar guideline value

The current guideline value of A.R.S. Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Chengleput Joint II SRO. The land classification is Mixed Special Type - I.

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

The guideline value for A.R.S. Nagar has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a 600% rise. However, in 2017, the value adjusted down to Rs 469 per sq.ft, reflecting a decrease of 33%. Following this, the value remained stable at Rs 700 per sq.ft in both 2023 and the upcoming 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, A.R.S. Nagar has experienced a remarkable increase of 600% in its guideline value.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value of A.R.S. Nagar is above this median.

• Arunachala Garden Avenue - E.E.K. Nagar: Rs 600 per sq.ft (2024)
• Akshya Garden: Rs 600 per sq.ft (2024)
• Chennai Metro City Phase I: Rs 600 per sq.ft (2024)
• Chennai Metro City Phase II: Rs 600 per sq.ft (2024)
• Easwaran Nagar: Rs 600 per sq.ft (2024)
• Easwaran Nagar Phase-II: Rs 600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers A.R.S. Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kolathur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When a buyer or seller approaches the registration office, the guideline value is assessed to ensure that the transaction is recorded accurately, reflecting the current market conditions as outlined in the official register.

Frequently asked questions

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

The current guideline value of A.R.S. Nagar is Rs 700 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 significant increases from Rs 100 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, and again remaining at Rs 700 per sq.ft in 2023 and 2024.

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

A.R.S. Nagar is classified as Mixed Special Type - I under the land classification system.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.