Guideline Value for ARAVIND NAGAR

Aravind Nagar guideline value

The current guideline value of Aravind Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This locality is situated in Minjur village, under the Ponneri SRO, and is classified as Residential Class III Type - I.

How the guideline value of Aravind Nagar has changed

The guideline value for Aravind Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 268 per sq.ft, which increased to Rs 400 per sq.ft in the 2023 revision, marking a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with a median value of Rs 550 per sq.ft. Aravind Nagar's 2024 guideline value is below this median.

• Anvitha Reddy Avenue: Rs 440 per sq.ft (2024)
• Anna Street: Rs 550 per sq.ft (2024)
• Annai Street: Rs 440 per sq.ft (2024)
• Athippattu Railway Station Road: Rs 550 per sq.ft (2024)
• Annai Abhirami Nagar: Rs 440 per sq.ft (2024)
• Babalisam Manai Layout: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Aravind Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty is calculated at 7%, which totals Rs 30,800, and the registration fee at 2% is Rs 8,800. Together, the total charges amount to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aravind Nagar?

The Sub Registrar Office that covers Aravind Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Minjur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is conducted at a fair value. This helps maintain transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Aravind Nagar?

The current guideline value of Aravind Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the median guideline value in Minjur?

The median guideline value in Minjur is Rs 550 per sq.ft, while Aravind Nagar's 2024 value is below this median at Rs 440 per sq.ft.

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

For a property valued at Rs 4,40,000, the stamp duty is Rs 30,800 and the registration fee is Rs 8,800, totaling Rs 39,600. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Aravind Nagar?

The Ponneri Sub Registrar Office handles registrations for Aravind Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.