Guideline Value for Arjun Nagar

Arjun Nagar guideline value

The current guideline value of Arjun Nagar, located in Konnur village under the Konnur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Arjun Nagar has changed

The guideline value for Arjun Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 208 per sq.ft, which increased to Rs 226 per sq.ft in 2003. Following this, there was a significant rise to Rs 700 per sq.ft in 2007, marking an increase of 210%. The value then saw a dramatic jump to Rs 5,000 per sq.ft in 2012, reflecting a 614% increase. However, it decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2544%. The register has no figures for the years not listed for this street.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median of Rs 3,800 per sq.ft. The guideline value for Arjun Nagar is above this median.

• Ashoka Avenue (1st Main Street): Rs 6,000 per sq.ft (2024)
• Ashoka Avenue (1 to 5 Cross Street): Rs 6,000 per sq.ft (2024)
• Ashoka Avenue and others Streets: Rs 6,000 per sq.ft (2024)
• Athilakshmi Nagar: Rs 3,800 per sq.ft (2024)
• Avvai Nagar Kambar Street: Rs 5,500 per sq.ft (2024)
• Avvai Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Arjun Nagar

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arjun Nagar?

The Konnur Sub Registrar Office covers Arjun Nagar, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Konnur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value helps in assessing the financial obligations associated with the transaction. It ensures that the appropriate fees are collected based on the established rates for the area.

Frequently asked questions

What is the current guideline value of Arjun Nagar?

The current guideline value of Arjun Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 208 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 2544% over this period.

What is the land classification of Arjun Nagar?

Arjun Nagar is classified as Residential Class I Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Arjun Nagar?

The Sub Registrar Office for Arjun Nagar is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.