Guideline Value for Aravind Farms

Aravind Farms guideline value

The current guideline value of Aravind Farms, located in Vilangadupakkam village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class III Type - I land classification.

How the guideline value of Aravind Farms has changed

The guideline value for Aravind Farms has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 9 per sq.ft. It saw a significant increase to Rs 200 per sq.ft in 2007, which was a change of +2122%. The 2012 revision maintained the value at Rs 400 per sq.ft, marking a decrease of -33% from the previous revision. The value then rose to Rs 268 per sq.ft in 2017, reflecting a +49% change from 2012. In 2023, the guideline value increased to Rs 400 per sq.ft, and the most recent revision in 2024 set it at Rs 440 per sq.ft, representing a +10% change from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by +4789%.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which is equal to the current guideline value of Aravind Farms.

• Arul Nagar: Rs 770 per sq.ft (2024)
• A S Avenue: Rs 440 per sq.ft (2024)
• Annai Vetha Nagar Extn. - I: Rs 440 per sq.ft (2024)
• Annai Vedha Nagar: Rs 770 per sq.ft (2024)
• Astalakshmi Nagar: Rs 770 per sq.ft (2024)
• Annai Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Aravind Farms

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty is calculated at 7%, which equals Rs 30,800, and the registration fee at 2% amounts to Rs 8,800. Therefore, the total cost for stamp duty and registration fees together is Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Aravind Farms?

The Sub Registrar Office covering Aravind Farms is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vilangadupakkam. 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 duties and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures transparency in the transaction and helps prevent undervaluation of properties during registration.

Frequently asked questions

What is the current guideline value of Aravind Farms?

The current guideline value of Aravind Farms is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 9 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of +4789% over the years.

What are the stamp duty and registration fees for property in Aravind Farms?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 30,800, and the registration fee is Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers Aravind Farms?

The Redhills Sub Registrar Office covers Aravind Farms, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Aravind Farms?

Aravind Farms is classified as Residential Class III Type - I, which indicates its suitability for residential development.