Guideline Value for ARK Vigneshwarar

ARK Vigneshwarar guideline value

The current guideline value of ARK Vigneshwarar in Madavilagam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This property falls under the Poonamallee SRO and is classified as Residential Class I Type - I.

How the guideline value of ARK Vigneshwarar has changed

The guideline value for ARK Vigneshwarar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 300%. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value continued to rise, reaching Rs 1,000 per sq.ft in 2023, and then further increased by 10% to the current rate of Rs 1,100 per sq.ft in 2024.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Madavilagam

In Madavilagam, there are 37 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, making the guideline value of ARK Vigneshwarar equal to this median.

• Bajanai koil street: Rs 1,100 per sq.ft (2024)
• Board school kootroad 169/1: Rs 1,100 per sq.ft (2024)
• Board school kootroad 169/2: Rs 1,100 per sq.ft (2024)
• Chennai Bangalore High Road: Rs 2,200 per sq.ft (2024)
• Gangaikondan mandappa veethi 169/1,2: Rs 1,100 per sq.ft (2024)
• Industrial Estate 113/2: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in ARK Vigneshwarar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers ARK Vigneshwarar?

The Sub Registrar Office covering ARK Vigneshwarar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madavilagam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency in property transactions.

When you proceed with a sale or purchase, the guideline value will influence the stamp duty and registration fees applicable. It is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of ARK Vigneshwarar?

The current guideline value of ARK Vigneshwarar is Rs 1,100 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 1,100 per sq.ft in 2024, marking an overall increase of 340% over the years.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur total fees of Rs 99,000.

Which office handles registrations for ARK Vigneshwarar?

The Poonamallee Sub Registrar Office handles registrations for ARK Vigneshwarar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property registration and affects the stamp duty and registration fees payable during transactions. It ensures a standardized approach to property valuation in Madavilagam.