Guideline Value for ARK Vigneshwara Nagar

ARK Vigneshwara Nagar guideline value

The current guideline value of ARK Vigneshwara Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Tharapakkam village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of ARK Vigneshwara Nagar has changed

The guideline value for ARK Vigneshwara Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 603 per sq.ft, which increased to Rs 900 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value to Rs 990 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes in guideline values reflect the following increments: a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

Guideline values in Tharapakkam

In Tharapakkam, there are 47 streets listed under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, making the 2024 figure for ARK Vigneshwara Nagar below that median.

• Ashok Nandhavanam: Rs 880 per sq.ft (2024)
• Anna Street: Rs 1,100 per sq.ft (2024)
• Amman Koil Street (ward 7): Rs 990 per sq.ft (2024)
• Amman Koil Street (ward 5): Rs 990 per sq.ft (2024)
• Ambethkar Street (ward 4): Rs 1,100 per sq.ft (2024)
• Ambethkar Street (ward 3): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in ARK Vigneshwara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers ARK Vigneshwara Nagar?

The Sub Registrar Office that covers ARK Vigneshwara Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Tharapakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Tharapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of ARK Vigneshwara Nagar?

The current guideline value of ARK Vigneshwara Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 603 per sq.ft in 2017 to Rs 900 per sq.ft in 2023, and then to Rs 990 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What are the other streets in Tharapakkam?

Other streets in Tharapakkam include Ashok Nandhavanam, Anna Street, Amman Koil Street (ward 7), Amman Koil Street (ward 5), Ambethkar Street (ward 4), and Ambethkar Street (ward 3), with guideline values ranging from Rs 880 to Rs 1,100 per sq.ft in 2024.

What fees are associated with buying property in ARK Vigneshwara Nagar?

When buying property in ARK Vigneshwara Nagar, buyers need to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 89,100.

Which office handles registration for ARK Vigneshwara Nagar?

The Pammal Sub Registrar Office handles registration for ARK Vigneshwara Nagar. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.