Guideline Value for Aravind Nagar Extension

Aravind Nagar Extension guideline value

The current guideline value of Aravind Nagar Extension is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Sundaracholavaram village under the Kunrathur SRO, classified as Residential Class I Type - III.

How the guideline value of Aravind Nagar Extension has changed

The guideline value for Aravind Nagar Extension has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 250 per sq.ft. This increased to Rs 600 per sq.ft in 2012, marking a significant rise of 140%. However, between 2012 and 2017, the value decreased to Rs 402 per sq.ft, a drop of 33%. The value then rose to Rs 600 per sq.ft in 2023, and currently stands at Rs 660 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2007 to the current 2024 figure, the guideline value has increased by 164%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,600 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the current value for Aravind Nagar Extension.

• Aravind Nagar Annexe: Rs 880 per sq.ft (2024)
• Aravind Nagar: Rs 660 per sq.ft (2024)
• Avadi Paruthippattu Road: Rs 660 per sq.ft (2024)
• Annai Nagar: Rs 550 per sq.ft (2024)
• AzhagarSwamy Nager: Rs 660 per sq.ft (2024)
• Bajanai koil I st Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Aravind Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, making the total charges Rs 59,400. 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 Aravind Nagar Extension?

The Sub Registrar Office that covers Aravind Nagar Extension is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Sundaracholavaram. It determines 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 serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Aravind Nagar Extension?

The current guideline value of Aravind Nagar Extension is Rs 660 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 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024. This represents an overall increase of 164% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Where can I find the Sub Registrar Office for Aravind Nagar Extension?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in the area.

What is the significance of the guideline value when buying property?

The guideline value is essential as it sets the minimum price for property registration. It ensures that the government receives the correct stamp duty and registration fees based on the property's value.