Guideline Value for ARASAN GARDEN

Arasan Garden guideline value

The current guideline value of Arasan Garden is Rs 1,000 per sq.ft. This area is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class V Type - II.

How the guideline value of Arasan Garden has changed

The guideline value of Arasan Garden has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 750 per sq.ft. This was followed by a decrease to Rs 502 per sq.ft in the 2017 revision. Interestingly, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and it remained unchanged in the 2024 revision.

Between the revisions, the most notable change occurred from 2017 to 2023, where the guideline value saw a rise of 99%. From 2012 to 2017, there was a decrease of 33%. Overall, comparing the values from 2012 to 2024, there has been an increase of 33%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, making the 2024 figure for Arasan Garden below this median.

• Aqua Sphero: Rs 3,300 per sq.ft (2024)
• Anna Salai West Street: Rs 1,700 per sq.ft (2024)
• Anna Salai 2nd Street: Rs 1,700 per sq.ft (2024)
• Anna Salai 1st Street: Rs 1,700 per sq.ft (2024)
• Anna Salai: Rs 1,700 per sq.ft (2024)
• Annamalai Garden: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Arasan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees together to Rs 90,000. It is important to note that the 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 Garden?

The Sub Registrar Office that covers Arasan Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Chemmancheri. It serves as a reference point for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value is assessed to ensure that the transaction is recorded accurately. The fees are determined based on this value or the sale price, depending on which is higher, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Arasan Garden?

The current guideline value of Arasan Garden is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, remaining the same in 2024.

What is the land classification of Arasan Garden?

Arasan Garden is classified as Residential Class V Type - II according to the guideline value register.

What are the other streets in Chemmancheri with their guideline values?

Other streets in Chemmancheri include Aqua Sphero at Rs 3,300 per sq.ft, Anna Salai West Street, Anna Salai 2nd Street, Anna Salai 1st Street, and Anna Salai, all at Rs 1,700 per sq.ft, and Annamalai Garden at Rs 1,700 per sq.ft.

How is the stamp duty calculated for properties in Arasan Garden?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,00,000, the stamp duty at 7% would be Rs 70,000.