Guideline Value for ARJUNA MEDU

Arjuna Medu guideline value

The current guideline value of Arjuna Medu, located in Koladi village under the Chennai South Joint II SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Arjuna Medu has changed

The guideline value for Arjuna Medu has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. The value rose again to Rs 800 per sq.ft in 2023, and currently stands at Rs 880 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, from 2007 to 2024, the guideline value has increased by 252%, reflecting the changes in the area's valuation over the years.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Arjuna Medu is below this median.

• Arjuna Medu Road: Rs 880 per sq.ft (2024)
• Arul Nagar: Rs 880 per sq.ft (2024)
• Aravamuthu Street: Rs 660 per sq.ft (2024)
• Anna Street: Rs 880 per sq.ft (2024)
• Annalakshmi Nagar Main Road: Rs 660 per sq.ft (2024)
• Annalakshmi Nagar Cross Road: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Arjuna Medu

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty, charged at 7%, would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, the total cost for stamp duty and registration fees would be Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arjuna Medu?

The Sub Registrar Office that covers Arjuna Medu is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Koladi, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the official valuation of the property.

During the registration process, the guideline value serves as a reference point for the government to assess taxes on property transactions. It is essential for buyers and sellers to be informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Arjuna Medu?

The current guideline value of Arjuna Medu is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, representing an overall increase of 252% over the years.

What is the land classification of Arjuna Medu?

Arjuna Medu is classified as Residential Class II Type - II, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Arjuna Medu?

The Sub Registrar Office for Arjuna Medu is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for property in Arjuna Medu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000, leading to a stamp duty of Rs 61,600.