Guideline Value for ARAV GARDEN

Arav Garden guideline value

The current guideline value of Arav Garden, located in Varadarajapuram village under the Padappai SRO, is Rs 3,030 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - IV land classification.

How the guideline value of Arav Garden has changed

The guideline value for Arav Garden has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,030 per sq.ft, reflecting a 10% increase from the 2023 revision, which was Rs 2,750 per sq.ft. Prior to 2023, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value increased from Rs 2,750 per sq.ft in 2023 to Rs 3,030 per sq.ft in 2024. This change indicates a significant adjustment in the valuation of properties in this area, aligning with the overall trend observed in the village.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a guideline value for 2024 ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing the Arav Garden guideline value above this median.

• ARK Avenue: Rs 1,650 per sq.ft (2024)
• ARK Avenue Extn, I, II and III: Rs 1,650 per sq.ft (2024)
• ARK Nagar: Rs 1,650 per sq.ft (2024)
• Ark Nagar Extension: Rs 1,650 per sq.ft (2024)
• Anusakthipuram: Rs 990 per sq.ft (2024)
• Arunachalam Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Arav Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,030 per sq.ft, the total guideline value amounts to Rs 30,30,000. The stamp duty at 7% would be Rs 2,12,100, and the registration fee at 2% would be Rs 60,600, bringing the total fees to Rs 2,72,700. 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 detailed calculations.

Which Sub Registrar Office covers Arav Garden?

The Sub Registrar Office that covers Arav Garden 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 Varadarajapuram

The guideline value plays a crucial role during the registration of property transactions in Varadarajapuram. It is the basis for calculating the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is bought or sold, the guideline value is assessed to determine the applicable fees. This ensures that the transaction is recorded accurately in the official registry and that the necessary taxes are collected by the government.

Frequently asked questions

What is the current guideline value for Arav Garden?

The current guideline value for Arav Garden is Rs 3,030 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,750 per sq.ft in 2023 to Rs 3,030 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Arav Garden?

Arav Garden falls under the Residential Class III Type - IV land classification.

What are the registration fees for property transactions in Arav Garden?

For a property valued at Rs 30,30,000, the stamp duty would be Rs 2,12,100 and the registration fee would be Rs 60,600, totaling Rs 2,72,700.

Where is the Sub Registrar Office for Arav Garden located?

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