Guideline Value for Arul Estate

Arul Estate guideline value

The current guideline value of Arul Estate in Umaiyal Parancheri village is Rs 250 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of Arul Estate has changed

Over the years, the guideline value of Arul Estate has seen several revisions. The most recent revision in 2024 maintains the value at Rs 250 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 167 per sq.ft, reflecting a 50% increase from that year to 2023. The 2012 revision also had a guideline value of Rs 250 per sq.ft, which indicates a decrease of 33% when compared to the 2017 figure.

Additionally, the overall change from the 2012 revision to the 2024 revision shows no increase, maintaining the value at Rs 250 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Umaiyal Parancheri

In Umaiyal Parancheri, there are 18 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 175 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Arul Estate is above this median.

• Ambethkar Street: Rs 175 per sq.ft (2024)
• Bharathidhasan Nagar: Rs 250 per sq.ft (2024)
• Erikkarai Street: Rs 175 per sq.ft (2024)
• Issai Estate: Rs 250 per sq.ft (2024)
• Kanniamman Kovil Street: Rs 175 per sq.ft (2024)
• L.K.S Garden: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Estate

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 is calculated at 7%, which comes to Rs 17,500, and the registration fee is charged at 2%, totaling Rs 5,000. Therefore, the total cost for stamp duty and registration fees combined is Rs 22,500. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Arul Estate?

The Sub Registrar Office that covers Arul Estate is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Umaiyal Parancheri. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per the local regulations.

When a buyer and seller agree on a sale price, the guideline value is used to calculate the applicable stamp duty and registration fees. If the sale price is lower than the guideline value, the duty will be calculated based on the guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Arul Estate?

The current guideline value of Arul Estate 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 in both the 2023 and 2024 revisions. It was Rs 167 per sq.ft in 2017, which was a 50% increase from that year to 2023.

What is the classification of Arul Estate?

Arul Estate is classified as Residential Class I Type - I, indicating its designation for residential use within the area.

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

The Sub Registrar Office for Arul Estate is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Arul Estate?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the stamp duty would be Rs 17,500 at 7% of the guideline value.