Guideline Value for ARUN NAGAR

Arun Nagar guideline value

The current guideline value of Arun Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. Arun Nagar is located in Pallikaranai village, which falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Arun Nagar has changed

The guideline value of Arun Nagar has seen several revisions over the years. In 2002, the value was Rs 90 per sq.ft, which increased to Rs 106 per sq.ft in 2003, marking an 18% rise. The value further increased by 277% to Rs 400 per sq.ft in 2007. In 2012, the value rose significantly to Rs 1,500 per sq.ft, reflecting a 275% increase. However, in 2017, the value decreased to Rs 1,005 per sq.ft, showing a decline of 33%. The most recent revision in 2024 sets the guideline value at Rs 1,650 per sq.ft, which is a 64% increase from 2017.

Overall, from 2002 to 2024, the guideline value has increased by 1733%. It is important to note that the register has no figure for this street for the year 2023.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value for Arun Nagar.

• Arumugam Nagar Main Road: Rs 2,420 per sq.ft (2024)
• Arumugam Nagar 3rd Street: Rs 2,420 per sq.ft (2024)
• Arumugam Nagar 2nd Street: Rs 2,420 per sq.ft (2024)
• Arumugam Nagar 1st Street: Rs 2,420 per sq.ft (2024)
• Astalakshmi Avenue: Rs 2,750 per sq.ft (2024)
• Astalakshmi Avenue 1st Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Arun Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arun Nagar?

The Sub Registrar Office that covers Arun Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is referenced to calculate the applicable duties. It is essential for both parties involved in the transaction to understand that the guideline value may differ from the actual sale price, and the higher amount will be used for duty calculations.

Frequently asked questions

What is the current guideline value of Arun Nagar?

The current guideline value of Arun Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 90 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1733% over the years.

What are the other streets in Pallikaranai and their guideline values?

Other streets in Pallikaranai include Arumugam Nagar Main Road, Arumugam Nagar 3rd Street, Arumugam Nagar 2nd Street, Arumugam Nagar 1st Street, Astalakshmi Avenue, and Astalakshmi Avenue 1st Main Road, with values ranging from Rs 2,420 to Rs 2,750 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Arun Nagar?

For a 1,000 sq.ft plot in Arun Nagar, the total stamp duty and registration fees would amount to Rs 1,48,500, based on the current guideline value of Rs 16,50,000.

Which Sub Registrar Office covers Arun Nagar?

The Chennai South Joint I Sub Registrar Office covers Arun Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.