Guideline Value for Arjunan Nagar

Arjunan Nagar guideline value

The current guideline value of Arjunan Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Arjunan Nagar has changed

The guideline value of Arjunan Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, this value decreased by 33% to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision saw another increase to Rs 2,500 per sq.ft, followed by the current value of Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 170%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Arjunan Nagar is below this median.

• Arul Selvi Street: Rs 2,700 per sq.ft (2024)
• Anusiya Nagar Extension: Rs 2,700 per sq.ft (2024)
• Anusiya Nagar: Rs 2,700 per sq.ft (2024)
• Ashok Avenue 1st Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arjunan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty, charged at 7%, would amount to Rs 1,89,000, and the registration fee, charged at 2%, would be Rs 54,000. Together, the total cost for stamp duty and registration would be Rs 2,43,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Arjunan Nagar?

The Sub Registrar Office that covers Arjunan Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Kolathur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately in the official registry.

Additionally, the guideline value is essential for both buyers and sellers to understand the legal implications of property transactions. It helps ensure that the property is valued fairly according to the regulations set by the government, thereby providing transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Arjunan Nagar?

The current guideline value of Arjunan Nagar is Rs 2,700 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 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over the years.

What is the land classification for Arjunan Nagar?

Arjunan Nagar is classified as Residential Class II Type - I according to the land classification system.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Arjunan Nagar?

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 guideline value of Rs 2,700 per sq.ft would incur a total stamp duty of Rs 1,89,000.