Guideline Value for Arul Avenue

Arul Avenue guideline value

The current guideline value of Arul Avenue in Mevaloorkuppam village, under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This value is classified under Residential Class III Type - I.

How the guideline value of Arul Avenue has changed

Over the years, the guideline value for Arul Avenue has seen several revisions. In 2007, the value was Rs 60 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, it dropped to Rs 201 per sq.ft in 2017. The value remained at Rs 300 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 400%.

From 2012 to 2017, there was a decrease of 33%. The increase from 2017 to 2023 was 49%, bringing the value back to Rs 300 per sq.ft. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Arul Avenue is below this median.

• Arlington county Ph.II: Rs 900 per sq.ft (2024)
• Arlington county Ph.I Extension: Rs 900 per sq.ft (2024)
• Arlington County Ph.I: Rs 900 per sq.ft (2024)
• Arlington County Phase - IV: Rs 1,344 per sq.ft (2024)
• Arakkonam Salai: Rs 900 per sq.ft (2024)
• APMS Nagar: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arul Avenue?

The Sub Registrar Office that covers Arul Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Mevaloorkuppam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Arul Avenue?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and remained at Rs 300 per sq.ft in 2023 and 2024.

What is the median guideline value in Mevaloorkuppam?

The median guideline value in Mevaloorkuppam is Rs 400 per sq.ft, with Arul Avenue's value being below this median.

What are the stamp duty and registration fees for Arul Avenue?

For a 1,000 sq.ft plot at the guideline value of Rs 300 per sq.ft, the total stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000.

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

The Sub Registrar Office for Arul Avenue is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.