Guideline Value for Arasu Avenue

Arasu Avenue guideline value

The current guideline value of Arasu Avenue in Selavoyal village, under the Madhavaram SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Arasu Avenue has changed

The guideline value for Arasu Avenue has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, rising to Rs 1,800 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. Arasu Avenue's 2024 figure is below this median.

• Anna Thottam / Anna Garden: Rs 2,200 per sq.ft (2024)
• Arumuga Naicker Thottam Residents: Rs 1,900 per sq.ft (2024)
• Annai Therasa Street: Rs 1,900 per sq.ft (2024)
• Anna Indira Nagar: Rs 1,900 per sq.ft (2024)
• Annai Avenue 3rd Street: Rs 1,900 per sq.ft (2024)
• Annai Avenue 2nd Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Arasu Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty, calculated at 7%, would be Rs 1,33,000, while the registration fee at 2% would be Rs 38,000. Therefore, the total cost for these fees would be Rs 1,71,000. 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 Arasu Avenue?

The Sub Registrar Office that covers Arasu Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Selavoyal. It serves as a benchmark for determining the minimum value at which a property can be sold or bought. This value is used to calculate the stamp duty and registration fees that are payable at the time of registration.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Arasu Avenue?

The current guideline value of Arasu Avenue is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of 6% from Rs 1,800 per sq.ft in 2023 to Rs 1,900 per sq.ft in 2024.

What is the land classification for Arasu Avenue?

Arasu Avenue falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for a property in Arasu Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,71,000, calculated based on the guideline value.

Where is the Sub Registrar Office for Arasu Avenue located?

The Madhavaram Sub Registrar Office, which covers Arasu Avenue, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.