Guideline Value for Arokkiyamada Nagar

Arokkiyamada Nagar guideline value

The current guideline value of Arokkiyamada Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Venkatapuram village and falls under the Adayar SRO with a land classification of Residential Class II Type - I.

How the guideline value of Arokkiyamada Nagar has changed

The guideline value for Arokkiyamada Nagar has seen several revisions over the years. In 2002, the value was Rs 707 per sq.ft, which increased to Rs 761 per sq.ft in 2003. The value then rose significantly to Rs 2,250 per sq.ft in 2007, followed by a jump to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The guideline value then increased to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision. The changes between the revisions include a 10% increase from 2023 to 2024, a 49% rise from 2017 to 2023, a 33% decrease from 2012 to 2017, a 122% increase from 2007 to 2012, a 196% rise from 2003 to 2007, and an 8% increase from 2002 to 2003.

Overall, from 2002 to 2024, the guideline value has increased by 678%. The register does not have figures for any other years for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 15,400 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, which is equal to the current guideline value of Arokkiyamada Nagar.

• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Bishop Colony: Rs 8,300 per sq.ft (2024)
• Central Avenue: Rs 5,500 per sq.ft (2024)
• Central Avenue Road: Rs 5,500 per sq.ft (2024)
• Chinnamalai: Rs 8,300 per sq.ft (2024)
• Church Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Arokkiyamada Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total 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, making the total charges Rs 4,95,000. 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 more details.

Which Sub Registrar Office covers Arokkiyamada Nagar?

The Arokkiyamada Nagar area is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Venkatapuram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are documented accurately and fairly.

When a property is sold, the guideline value helps in determining the official price for registration purposes. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Arokkiyamada Nagar?

The current guideline value of Arokkiyamada 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 from Rs 707 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing a significant overall increase of 678% over the years.

What are the other streets in Venkatapuram with their guideline values?

Other streets in Venkatapuram include Bharathi Street at Rs 2,800 per sq.ft, Bishop Colony at Rs 8,300 per sq.ft, and Central Avenue at Rs 5,500 per sq.ft, among others.

What is the stamp duty and registration fee for a property in Arokkiyamada Nagar?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Arokkiyamada Nagar?

The Adayar Sub Registrar Office handles registrations for Arokkiyamada Nagar, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.