Guideline Value for Arul Nagar 3rd st ( Ward No.3 )

Arul Nagar 3rd st ( Ward No.3 ) guideline value

The current guideline value of Arul Nagar 3rd st ( Ward No.3 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Arul Nagar 3rd st ( Ward No.3 ) has changed

The guideline value for Arul Nagar 3rd st has undergone several revisions over the years. The earliest recorded revision was in 2017, with a guideline value of Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO carrying a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Arul Nagar 3rd st is above this median.

• Arul Nagar 2nd st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Arul Nagar 4th St (Ward-03): Rs 2,200 per sq.ft (2024)
• Arul Nagar 1st st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Arul Nagar Cross st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Arul Nagar Extension: Rs 2,200 per sq.ft (2024)
• Arul Nagar K.K.Thazhai Main Rd Connecting Rd ( Ward No.3 ): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Nagar 3rd st ( Ward No.3 )

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 information.

Which Sub Registrar Office covers Arul Nagar 3rd st ( Ward No.3 )?

The Sub Registrar Office that covers Arul Nagar 3rd st ( Ward No.3 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Madhavaram. It serves as a baseline for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Arul Nagar 3rd st?

The current guideline value of Arul Nagar 3rd st ( Ward No.3 ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64%.

What were the guideline values in previous revisions?

The guideline values for Arul Nagar 3rd st in previous revisions were Rs 1,340 per sq.ft in 2017, Rs 2,000 per sq.ft in 2023, and Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012.

What is the stamp duty rate for properties in Arul Nagar 3rd st?

The stamp duty rate for properties in Arul Nagar 3rd st is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can visit this office for property registration services.