Guideline Value for Arul Nagar (Ward-03)

Arul Nagar (Ward-03) guideline value

The current guideline value of Arul Nagar (Ward-03) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Arul Nagar (Ward-03) has changed

The guideline value for Arul Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. With the latest revision in 2024, the value has further increased to Rs 2,200 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, positioning Arul Nagar (Ward-03) above this median with its current guideline value of Rs 2,200 per sq.ft.

• Arul Nagar Road (Ward-3): Rs 2,200 per sq.ft (2024)
• Arul Nagar Milk Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Arul Nagar Milk Colony 1st Street: Rs 2,200 per sq.ft (2024)
• Arul Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Arul Nagar K.K.Thazhai Main Rd Connecting Rd (Ward No.3): Rs 2,200 per sq.ft (2024)
• Arul Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Nagar (Ward-03)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Arul Nagar (Ward-03)?

The Sub Registrar Office covering Arul Nagar (Ward-03) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction reflects the official valuation set by the authorities. This process helps maintain transparency and standardization in real estate transactions.

Frequently asked questions

What is the current guideline value of Arul Nagar (Ward-03)?

The current guideline value of Arul Nagar (Ward-03) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the stamp duty and registration fees for property transactions in Arul Nagar (Ward-03)?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations in Madhavaram?

The Madhavaram Sub Registrar Office handles property registrations in Madhavaram, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Arul Nagar (Ward-03)?

Arul Nagar (Ward-03) is classified as Residential Class I Type - I, indicating its designation for residential purposes.