Guideline Value for ARUN AVENUE

Arun Avenue guideline value

The current guideline value of Arun Avenue, located in Chitthalapakkam village, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Special Type - I.

How the guideline value of Arun Avenue has changed

The guideline value for Arun Avenue has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 2,900 per sq.ft. The guideline value of Arun Avenue is below this median.

• Arun Avenue Extension: Rs 3,300 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value is Rs 27,00,000. The stamp duty, charged at 7%, amounts to Rs 1,89,000, while the registration fee at 2% is Rs 54,000. Together, the total cost for stamp duty and registration fee is Rs 2,43,000. Please note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arun Avenue?

Arun Avenue falls under 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 more information.

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

The guideline value is an essential factor in property transactions in Chitthalapakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay during the registration process. When a property is sold, the guideline value is used to assess the applicable fees, ensuring that the transaction is recorded accurately in the official register.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property. The fees are calculated based on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Arun Avenue?

The current guideline value of Arun Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,500 to Rs 2,700 per sq.ft in 2024, with notable fluctuations including a decrease to Rs 1,675 per sq.ft in 2017 and an increase to Rs 2,500 per sq.ft in 2023.

What is the land classification for Arun Avenue?

Arun Avenue is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Arun Avenue?

Stamp duty for properties in Arun Avenue is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,00,000 incurs a stamp duty of Rs 1,89,000 at a rate of 7%.