Guideline Value for ARTICIAL ROAD

Articial Road guideline value

The current guideline value of Articial Road in Paleripattu village, under the Avadi SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Articial Road has changed

The guideline value for Articial Road has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, reflecting a rise of 124%. The most recent revision in 2024 raised the guideline value to Rs 1,980 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 65%.

Guideline values in Paleripattu

In Paleripattu, there are 111 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,200 per sq.ft, with a median value of Rs 990 per sq.ft. The guideline value of Articial Road is above this median, indicating its higher valuation compared to many other streets in the village.

• Ashok Nagar: Rs 1,480 per sq.ft (2024)
• Ashok Niranjan Nagar: Rs 1,950 per sq.ft (2024)
• Anna St: Rs 990 per sq.ft (2024)
• Annappar St: Rs 990 per sq.ft (2024)
• Andal Nagar: Rs 880 per sq.ft (2024)
• Anandha Nagar (Pudhu Nagar): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Articial Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for these fees would be Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Articial Road?

The Sub Registrar Office that covers Articial Road is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical component in the registration process for property transactions in Paleripattu. It serves as a benchmark for determining the minimum value at which a property can be registered, helping to ensure transparency in property dealings.

When buying or selling property, the guideline value influences the stamp duty and registration fees that need to be paid. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction adheres to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Articial Road?

The current guideline value of Articial Road is Rs 1,980 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 increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Articial Road?

The land classification for Articial Road is Commercial Special Type - I, indicating its designated use within the area.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum value for registration and influencing the stamp duty and registration fees. These costs are based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Articial Road located?

The Avadi Sub Registrar Office, which covers Articial Road, is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.