Guideline Value for Archana Nagar

Archana Nagar guideline value

The current guideline value of Archana Nagar, located in Peerklankaranai village under the Tambaram Joint 1 SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Archana Nagar has changed

The guideline value for Archana Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 670 per sq.ft. Subsequently, the value increased significantly to Rs 1,000 per sq.ft in 2023, marking a 49% rise from the 2017 figure. The most recent revision in 2024 has increased the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Archana Nagar's 2024 figure below this median.

• Archana Nagar 2nd Cross ST: Rs 1,100 per sq.ft (2024)
• Archana Nagar Extn: Rs 3,300 per sq.ft (2024)
• Arul Karunakaran Street: Rs 1,100 per sq.ft (2024)
• Anna Street 3st Cross St: Rs 1,320 per sq.ft (2024)
• Anna Street 2st Cross St: Rs 1,320 per sq.ft (2024)
• Anna Street 1st Cross St: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Archana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Archana Nagar?

The Sub Registrar Office that covers Archana Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is a critical factor in the registration process of property transactions in Peerklankaranai. It serves as a baseline for calculating stamp duty and registration fees, ensuring that these costs are based on the established value of the property rather than the sale price.

When buying or selling a property, the guideline value helps both parties understand the minimum value assigned to the property by the government. This ensures transparency and helps in determining the appropriate taxes to be paid during the registration process.

Frequently asked questions

What is the current guideline value of Archana Nagar?

The current guideline value of Archana Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Archana Nagar?

Archana Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Archana Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Where is the Sub Registrar Office for Archana Nagar located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.