Guideline Value for Arasan Nagar

Arasan Nagar guideline value

The current guideline value of Arasan Nagar, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Arasan Nagar has changed

Over the years, the guideline value of Arasan Nagar has undergone several revisions. The earliest recorded figure in the register is from 2002, where the guideline value was Rs 164 per sq.ft. This increased to Rs 207 per sq.ft in 2003, marking a change of +26%. The value saw significant growth in the following years, reaching Rs 600 per sq.ft in 2007, which represents a +190% increase. In 2012, the value was Rs 2,000 per sq.ft, reflecting a +233% change from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of -33%.

From 2017 to 2023, the guideline value rose to Rs 2,000 per sq.ft, indicating a +49% increase, and then reached the current value of Rs 2,200 per sq.ft in 2024, which is a +10% change. Overall, from 2002 to 2024, the guideline value has increased by +1241%. There are no figures available for revisions in years other than those listed.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Arasan Nagar's 2024 figure below this median.

• Anna Street: Rs 3,300 per sq.ft (2024)
• Annai Sathya Nagar: Rs 2,200 per sq.ft (2024)
• Asthalakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Ayyanar Nagar: Rs 3,300 per sq.ft (2024)
• Ayyasamy Street: Rs 6,600 per sq.ft (2024)
• Bagavath Sing Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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.

Which Sub Registrar Office covers Arasan Nagar?

The Sub Registrar Office that covers Arasan Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Arasan Nagar?

The current guideline value of Arasan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly from Rs 164 per sq.ft to the current Rs 2,200 per sq.ft, reflecting an overall increase of +1241% over the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations in Arasan Nagar?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Arasan Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Arasan Nagar?

Arasan Nagar is classified as Residential Class I Type - II, indicating its designation for residential use within the area.