Guideline Value for ARAN

Aran guideline value

The current guideline value of Aran, located in Ottiyampakkam village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Aran has changed

Over the years, the guideline value for Aran has seen several revisions. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase from Rs 2,500 per sq.ft established in the 2023 revision. Notably, there was no change from 2017 to 2023, where the value remained at Rs 2,500 per sq.ft. The overall change from the 2017 revision to the 2024 revision is an increase of 8%.

Prior to the 2017 revision, the register has no figure for the years 2002, 2003, 2007, and 2012. Therefore, the only figures available for comparison are from 2017, 2023, and 2024, with the significant change occurring between 2023 and 2024.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,950 per sq.ft, placing Aran's guideline value above this median.

• Arasangazhani Odai Street: Rs 2,200 per sq.ft (2024)
• Annai Avenue: Rs 1,650 per sq.ft (2024)
• Avudaiyar First Cross Street: Rs 1,950 per sq.ft (2024)
• Avudaiyar Koil First Street: Rs 1,950 per sq.ft (2024)
• Avudaiyar Koil Second Street: Rs 1,950 per sq.ft (2024)
• Avudaiyar Koil Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Aran

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. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aran?

The Sub Registrar Office that covers Aran is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Ottiyampakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. Ensuring that the guideline value is accurately reflected in the transaction is essential for compliance with local regulations.

When selling property, the guideline value can influence the sale price, as it provides a benchmark for property valuation. Buyers and sellers should be aware of the current guideline value to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Aran?

The current guideline value of Aran 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 increased from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. There was no change from 2017 to 2023, where it remained at Rs 2,500 per sq.ft.

What is the land classification for Aran?

The land classification for Aran is Residential Special Type - II, which indicates the intended use of the land for residential purposes.

What are the stamp duty and registration fees for property in Aran?

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Aran?

The Selaiyur Sub Registrar Office handles property registrations for Aran, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.