Guideline Value for Arul Jothi Nagar

Arul Jothi Nagar guideline value

The current guideline value of Arul Jothi Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Thalakanancherry village under the Alandur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Arul Jothi Nagar has changed

The guideline value for Arul Jothi Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking an increase of 257%. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, reflecting a drop of 33%. The 2023 revision saw a substantial rise to Rs 2,500 per sq.ft, followed by another increase to Rs 2,800 per sq.ft in the 2024 revision, which is a 12% increase from the previous year. The register has no figure for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. The changes between the revisions highlight the fluctuations in property values over the years, with the most significant rise occurring from 2012 to 2017 and then again from 2023 to 2024.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Arul Jothi Nagar is below this median.

• Aruljothi Street: Rs 2,800 per sq.ft (2024)
• Aruna Nagar Colony Layout (TNGO Colony): Rs 4,400 per sq.ft (2024)
• Anna Street: Rs 2,800 per sq.ft (2024)
• Annasalai: Rs 2,800 per sq.ft (2024)
• Ayyappan Nagar: Rs 4,400 per sq.ft (2024)
• Bakthavachalam Nagar 10th Cross Street*: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Jothi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty, charged at 7%, would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arul Jothi Nagar?

The Sub Registrar Office that covers Arul Jothi Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

Additionally, the guideline value is used by the Registration Department to assess the fair value of properties in the area. This helps in maintaining transparency and consistency in property transactions, ensuring that all parties are aware of the financial implications involved.

Frequently asked questions

What is the current guideline value of Arul Jothi Nagar?

The current guideline value of Arul Jothi Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification of Arul Jothi Nagar?

Arul Jothi Nagar is classified as Residential Class II Type - II.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Arul Jothi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,800 per sq.ft, the stamp duty would be Rs 1,96,000.