Guideline Value for AURIC HOMES

Auric Homes guideline value

The current guideline value of Auric Homes in Padappai village, under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Auric Homes has changed

The guideline value for Auric Homes has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 990 per sq.ft, which is an increase from the 2023 revision of Rs 900 per sq.ft. This marks a 10% increase between 2023 and 2024. Prior to this, the 2017 revision also had the guideline value at Rs 900 per sq.ft, indicating no change from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 10%.

There are no figures available for the years 2012, 2007, 2003, and 2002 in the register for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value for these streets is Rs 830 per sq.ft, placing Auric Homes above this median.

• Asha Nagar: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 440 per sq.ft (2024)
• Arumugam Nagar: Rs 830 per sq.ft (2024)
• Balaji Nagar: Rs 830 per sq.ft (2024)
• Anna Nagar: Rs 660 per sq.ft (2024)
• Annai Arul Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Auric Homes

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost to Rs 89,100. It is important to note that the 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 Auric Homes?

The Sub Registrar Office that covers Auric Homes is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Padappai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Auric Homes?

The current guideline value of Auric Homes is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2023 to Rs 990 per sq.ft in 2024, marking a 10% increase. There was no change from 2017 to 2023, where the value remained at Rs 900 per sq.ft.

What is the land classification for Auric Homes?

The land classification for Auric Homes is Residential Class II Type - I, indicating its designation for residential development.

What are the stamp duty and registration fees for a property in Auric Homes?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property at the current guideline value, the total cost would be Rs 89,100.

Which office handles property registration for Auric Homes?

The Padappai Sub Registrar Office handles property registration for Auric Homes, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.