Guideline Value for ARASAN AVENUE

Arasan Avenue guideline value

The current guideline value of Arasan Avenue in Mudichur village, under the Padappai SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Arasan Avenue has changed

The guideline value for Arasan Avenue has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is an increase from Rs 2,500 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, indicating a significant increase of 49% over the six years leading up to 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. This absence of data means that the changes in guideline value during those years cannot be quantified.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Arasan Avenue's 2024 figure above that median.

• Appavu Street: Rs 1,210 per sq.ft (2024)
• A.N.Vasudevan Nagar: Rs 2,440 per sq.ft (2024)
• Arumuga Nayinar Colony: Rs 2,200 per sq.ft (2024)
• Anna Street: Rs 3,630 per sq.ft (2024)
• Anna Nagar: Rs 2,200 per sq.ft (2024)
• Annai Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arasan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arasan Avenue?

The Sub Registrar Office that covers Arasan Avenue 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 Mudichur

The guideline value plays a crucial role during the registration of property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that the transaction reflects a fair valuation based on the established rates in the area.

Frequently asked questions

What is the current guideline value of Arasan Avenue?

The current guideline value of Arasan Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the other streets with guideline values in Mudichur?

Other streets in Mudichur include Appavu Street at Rs 1,210 per sq.ft, A.N.Vasudevan Nagar at Rs 2,440 per sq.ft, and Anna Street at Rs 3,630 per sq.ft, among others.

What is the registration fee for property in Arasan Avenue?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 27,50,000, the registration fee would be Rs 55,000.

Where can I find the Sub Registrar Office for Arasan Avenue?

The Padappai Sub Registrar Office covers Arasan Avenue and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.