Guideline Value for Aravind Nagar

Aravind Nagar guideline value

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

How the guideline value of Aravind Nagar has changed

Over the years, the guideline value of Aravind Nagar has seen several revisions. The earliest recorded revision was in 2007, where the value was Rs 150 per sq.ft. This figure increased significantly to Rs 600 per sq.ft in 2012, marking a 300% rise. However, it decreased to Rs 402 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 600 per sq.ft in 2023, followed by another increase to the current value of Rs 660 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there are no registered figures for Aravind Nagar for the years 2002 and 2003. The overall change from the 2007 revision to the 2024 revision shows a significant increase of 340%.

Guideline values in Sundaracholavaram

Sundaracholavaram has 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 guideline value for these streets is Rs 660 per sq.ft, which is equal to the current value of Aravind Nagar.

• Aravind Nagar Annexe: Rs 880 per sq.ft (2024)
• Aravind Nagar Extension: 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

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, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that 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?

The Sub Registrar Office that covers Aravind Nagar 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 critical factor in property transactions in Sundaracholavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers often refer to this value to negotiate prices and ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Aravind Nagar?

The current guideline value of Aravind Nagar 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 from Rs 150 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, showing an overall increase of 340%.

What is the land classification of Aravind Nagar?

Aravind Nagar is classified as Residential Class I Type - III.

Where can I find the registration office for Aravind Nagar?

The registration office for Aravind Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Aravind Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 46,200 based on the current guideline value.