Guideline Value for Arokia Matha Nagar

Arokia Matha Nagar guideline value

The current guideline value for Arokia Matha Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Sengadu village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Arokia Matha Nagar has changed

The guideline value for Arokia Matha Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 250 per sq.ft. The 2017 revision saw a decrease to Rs 167 per sq.ft, reflecting a 33% drop from the previous value. However, from 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 250 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 250 per sq.ft, indicating no change from the 2023 revision. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Sengadu

Sengadu village has 24 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 101 to Rs 500 per sq.ft. The median value is Rs 150 per sq.ft, placing Arokia Matha Nagar's 2024 figure above this median.

• Bajanai Koil Street: Rs 150 per sq.ft (2024)
• Cement Salai Street: Rs 150 per sq.ft (2024)
• Colony Cross Street: Rs 101 per sq.ft (2024)
• Cross Street: Rs 150 per sq.ft (2024)
• Dharani Grand: Rs 500 per sq.ft (2024)
• G.K.R Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Arokia Matha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total cost for these fees Rs 22,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Arokia Matha Nagar?

Arokia Matha Nagar falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Sengadu. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in assessing the fair value of the property and plays a significant role in the calculation of taxes associated with the transaction.

Frequently asked questions

What is the current guideline value of Arokia Matha Nagar?

The current guideline value of Arokia Matha Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since the 2012 revision, with a previous decrease to Rs 167 per sq.ft in 2017. There was a significant increase of 50% from 2017 to 2023, bringing it back to Rs 250 per sq.ft.

What are the guideline values for other streets in Sengadu?

Other streets in Sengadu have varying guideline values, ranging from Rs 101 to Rs 500 per sq.ft. Arokia Matha Nagar's value is above the median of Rs 150 per sq.ft.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 22,500.

Which office handles registrations for Arokia Matha Nagar?

The Sriperumpudur Sub Registrar Office handles registrations for Arokia Matha Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.