Guideline Value for ARIVAANAR STREET (WARD -4)

Arivaanar Street (Ward -4) guideline value

The current guideline value of Arivaanar Street (Ward -4) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

How the guideline value of Arivaanar Street (Ward -4) has changed

The guideline value for Arivaanar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. However, the value saw a significant increase to Rs 1,200 per sq.ft in the 2023 revision, and then rose again to Rs 1,321 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, making the 2024 figure for Arivaanar Street above that median.

• Arivudai Nambi Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Arnakiriyar Street (Ward -8): Rs 1,760 per sq.ft (2024)
• A.R.S Nagar (Sa): Rs 440 per sq.ft (2024)
• Arumuganaavalar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Annibesant Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Annibesant Iind Cross Street (Ward -8): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Arivaanar Street (Ward -4)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, while the registration fee at 2% would be Rs 26,420, bringing the total cost together to Rs 1,18,890. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arivaanar Street (Ward -4)?

The Sub Registrar Office that covers Arivaanar Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ninna Karai. It serves as a reference for determining the stamp duty and registration fees that must be paid during the transaction process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable duties.

When registering a property, it is essential to provide accurate details to ensure that the guideline value is applied correctly. This value can influence the overall cost of the transaction, so understanding it is vital for both buyers and sellers in the area.

Frequently asked questions

What is the current guideline value of Arivaanar Street (Ward -4)?

The current guideline value of Arivaanar Street (Ward -4) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification of Arivaanar Street?

Arivaanar Street is classified as Residential Special Type - V.

Where can I find the Sub Registrar Office for Arivaanar Street?

The Sub Registrar Office for Arivaanar Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property transactions in Ninna Karai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the stamp duty would be Rs 92,470.