Guideline Value for Arish Avenue

Arish Avenue guideline value

The current guideline value of Arish Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Arish Avenue has changed

The guideline value for Arish Avenue has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until 2017 when it dropped to Rs 804 per sq.ft, marking a decrease of 33%. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and further rose to Rs 1,300 per sq.ft in the 2024 revision, reflecting an increase of 8% from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam village, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value is Rs 2,150 per sq.ft, indicating that Arish Avenue's 2024 figure is below this median.

• Appar Street: Rs 2,150 per sq.ft (2024)
• Arul Neri Nagar: Rs 1,900 per sq.ft (2024)
• Arul Neri Nagar Extension: Rs 1,900 per sq.ft (2024)
• Arul Neri Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Anna Street: Rs 2,400 per sq.ft (2024)
• Annai Indira Gandhi Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Arish Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Arish Avenue?

The Sub Registrar Office that covers Arish Avenue 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 Rajakilpakkam

The guideline value is a crucial factor when registering property in Rajakilpakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the property is registered at a fair value as per government standards.

When buying or selling property, it is essential to be aware of the guideline value as it can affect the total cost involved in 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 Arish Avenue?

The current guideline value of Arish Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Arish Avenue has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Arish Avenue?

The land classification for Arish Avenue is Residential Class II Type - II, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Arish Avenue?

The Sub Registrar Office covering Arish Avenue is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for property in Arish Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 91,000 at 7%.