Guideline Value for ARUN AVENUE EXTENSION

Arun Avenue Extension guideline value

The current guideline value of Arun Avenue Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Chitthalapakkam village and falls under the Selaiyur SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of Arun Avenue Extension has changed

The guideline value for Arun Avenue Extension has seen several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 2,010 per sq.ft. This figure increased to Rs 3,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a further increase of 10% from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for Arun Avenue Extension. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, placing Arun Avenue Extension's 2024 figure above this median.

• Arun Avenue: Rs 2,700 per sq.ft (2024)
• Aravind Avenue: Rs 2,950 per sq.ft (2024)
• Aravindar Enclave: Rs 1,950 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,950 per sq.ft (2024)
• Balm Avenue: Rs 3,300 per sq.ft (2024)
• Amutha Nagar: Rs 2,450 per sq.ft (2024)

Stamp duty and registration fee for property in Arun Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Arun Avenue Extension?

The Sub Registrar Office that covers Arun Avenue Extension is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Arun Avenue Extension?

The current guideline value of Arun Avenue Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 64%.

What are the stamp duty and registration fees for properties in Arun Avenue Extension?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles property registrations for Arun Avenue Extension?

The Selaiyur Sub Registrar Office handles property registrations for Arun Avenue Extension, located at No.36, Bharathmatha Salai, Chennai - 600 073.

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

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that properties are registered at a minimum value, promoting transparency and fairness in the real estate market.