Guideline Value for ARUMUGANAAVALAR STREET (WARD -7)

Arumuganaavalar Street (Ward -7) guideline value

The current guideline value of Arumuganaavalar Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

How the guideline value of Arumuganaavalar Street (Ward -7) has changed

The guideline value for Arumuganaavalar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,200 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kattankollatur

Kattankollatur has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft as per the 2024 revision. The median guideline value in this village is Rs 1,100 per sq.ft, placing Arumuganaavalar Street's 2024 value above this median.

• A.R.S Nagar (Sa): Rs 440 per sq.ft (2024)
• Arnakiriyar Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Arivudai Nambi Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Arivaanar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Aravanar Street: Rs 1,100 per sq.ft (2024)
• Annibesant Street (Ward -8): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Arumuganaavalar Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees.

Which Sub Registrar Office covers Arumuganaavalar Street (Ward -7)?

The Sub Registrar Office that covers Arumuganaavalar Street (Ward -7) 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 Kattankollatur

The guideline value plays a crucial role in property transactions in Kattankollatur. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer purchases a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is documented correctly.

When selling a property, the seller must ensure that the sale price is at least equal to or higher than the guideline value to avoid any legal complications during the registration process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Arumuganaavalar Street (Ward -7)?

The current guideline value of Arumuganaavalar Street (Ward -7) is Rs 1,320 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 2023 to Rs 1,320 per sq.ft in 2024, an increase of 10%. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing a significant rise over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office serves Arumuganaavalar Street (Ward -7)?

The Chengleput Joint II Sub Registrar Office serves Arumuganaavalar Street (Ward -7), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Arumuganaavalar Street (Ward -7)?

Arumuganaavalar Street (Ward -7) is classified as Residential Special Type - V, indicating its designated use for residential purposes.