Guideline Value for Aravind Nagar Kumaraswamy Nagar Joint Road

Aravind Nagar Kumaraswamy Nagar Joint Road guideline value

The current guideline value of Aravind Nagar Kumaraswamy Nagar Joint Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Aravind Nagar Kumaraswamy Nagar Joint Road has changed

Over the years, the guideline value of Aravind Nagar Kumaraswamy Nagar Joint Road has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 2,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, the guideline value has increased by 10% from the 2012 revision to the 2024 revision.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing the guideline value of Aravind Nagar Kumaraswamy Nagar Joint Road below this median.

• Arputhalaya Nagar Phase I & II: Rs 1,100 per sq.ft (2024)
• Anna Street Extension: Rs 1,600 per sq.ft (2024)
• Anna Street: Rs 1,600 per sq.ft (2024)
• Anna Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Arvind Nagar: Rs 2,750 per sq.ft (2024)
• Arvind Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Aravind Nagar Kumaraswamy Nagar Joint Road

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, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Aravind Nagar Kumaraswamy Nagar Joint Road?

The Sub Registrar Office that covers Aravind Nagar Kumaraswamy Nagar Joint Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

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

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

Frequently asked questions

What is the current guideline value of Aravind Nagar Kumaraswamy Nagar Joint Road?

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

How much has the guideline value changed over the years?

The guideline value has remained unchanged at Rs 2,000 per sq.ft from 2012 to 2023, before increasing to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

What is the land classification for Aravind Nagar Kumaraswamy Nagar Joint Road?

The land classification for Aravind Nagar Kumaraswamy Nagar Joint Road is Residential Special Type - I.

What are the stamp duty and registration fees for property transactions here?

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.

Where is the Sub Registrar Office located for this area?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.