Guideline Value for Arul Jothi Street

Arul Jothi Street guideline value

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

How the guideline value of Arul Jothi Street has changed

Since the 2002 revision, the guideline value for Arul Jothi Street has seen significant changes. In 2002, the guideline value was Rs 269 per sq.ft, which increased to Rs 301 per sq.ft in 2003. Following that, the value rose to Rs 1,150 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017 before increasing again to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,800 per sq.ft in 2024. The overall change from 2002 to 2024 is an increase of 941%.

The changes between the revisions are as follows: from 2002 to 2003, there was an increase of 12%; from 2003 to 2007, an increase of 282%; from 2007 to 2012, a rise of 117%; a decrease of 33% from 2012 to 2017; an increase of 49% from 2017 to 2023; and finally, an increase of 12% from 2023 to 2024.

Guideline values in Ullagaram

In Ullagaram village, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the 2024 figure for Arul Jothi Street.

• Anna Street 2nd Street( Main Road): Rs 2,200 per sq.ft (2024)
• Anna Street: Rs 2,200 per sq.ft (2024)
• Avvai Street: Rs 2,200 per sq.ft (2024)
• Annamalai Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Azhvar Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Jothi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, resulting in a total of Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arul Jothi Street?

The Sub Registrar Office that covers Arul Jothi Street 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 Ullagaram

The guideline value is a crucial factor in property transactions in Ullagaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price alone. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Arul Jothi Street?

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

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with the most recent increase from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, reflecting a 12% increase.

What is the land classification for Arul Jothi Street?

Arul Jothi Street is classified as Residential Class II Type - I, which is relevant for determining the applicable guideline value.

How is stamp duty calculated for properties in Arul Jothi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty at 7% would be Rs 1,96,000.

Where can I find the Sub Registrar Office for Arul Jothi Street?

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