Guideline Value for Aravind Nagar

Aravind Nagar guideline value

The current guideline value of Aravind Nagar is Rs 700 per sq.ft, as per the 2023 revision. This area falls under Vengadamangalam village and is classified as Residential Special Type - I. The relevant Sub Registrar Office for this region is Gooduvancheri SRO.

How the guideline value of Aravind Nagar has changed

Looking at the revisions, the guideline value for Aravind Nagar has seen significant changes over the years. The 2007 revision set the value at Rs 160 per sq.ft, which then increased dramatically to Rs 700 per sq.ft in the 2012 revision, marking a rise of 338%. However, the 2017 revision saw a decrease to Rs 469 per sq.ft, a drop of 33%. The most recent 2023 revision has restored the value to Rs 700 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 338%. Notably, there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Vengadamangalam

Currently, there are no specific village figures provided for Vengadamangalam. Aravind Nagar is part of this locality, which has seen various guideline values over the years.

Stamp duty and registration fee for property in Aravind Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total charges to Rs 63,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aravind Nagar?

The Sub Registrar Office that covers Aravind Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vengadamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly affects the stamp duty and registration fees payable during the transaction.

When registering a property, the authorities will assess either the sale price or the guideline value, whichever is higher, to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and reflects the true value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Aravind Nagar?

The current guideline value of Aravind Nagar is Rs 700 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and has returned to Rs 700 per sq.ft in 2023.

What is the land classification for Aravind Nagar?

Aravind Nagar is classified as Residential Special Type - I, which indicates its suitability for residential developments.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Aravind Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot at the current rate, the total charges would amount to Rs 63,000.