Guideline Value for ARIHANT AVENUE

Arihant Avenue guideline value

The current guideline value of Arihant Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of Arihant Avenue has changed

The guideline value for Arihant Avenue has seen several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 5,000 per sq.ft. This was followed by a decrease to Rs 3,350 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 5,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose significantly by 49%. Overall, from 2012 to 2024, there has been a 10% increase, with the current value being Rs 5,500 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Arihant Avenue's 2024 figure is above this median.

• Arihant Kudiyiruppu Salai: Rs 5,500 per sq.ft (2024)
• Ariatthamman Koil Street: Rs 3,300 per sq.ft (2024)
• Arulmigu Pamban Baba Nagar: Rs 2,200 per sq.ft (2024)
• Arumugam Avenue: Rs 2,200 per sq.ft (2024)
• Anna Street: Rs 3,900 per sq.ft (2024)
• Annai Parvathi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arihant Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that 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 details.

Which Sub Registrar Office covers Arihant Avenue?

The Sub Registrar Office that covers Arihant Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on whichever amount is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Arihant Avenue?

The current guideline value of Arihant Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, marking a 10% increase. It was Rs 3,350 per sq.ft in 2017 and Rs 5,000 per sq.ft in 2012.

What is the land classification of Arihant Avenue?

Arihant Avenue is classified as Residential Special Type - III under the Neelankarai SRO.

Where can I find the registration office for Arihant Avenue?

The registration office for Arihant Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Arihant Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.