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

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

The current guideline value of Arul Nagar Cross 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

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

Over the years, the guideline value for Arul Nagar Cross st has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and further rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 shows a 10% increase, highlighting the fluctuations in the guideline value over the years. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Arul Nagar Cross st's value above this median.

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

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

You can use our stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Arul Nagar Cross st ( Ward No.3 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the financial aspects of property transactions. Accurate knowledge of the guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Arul Nagar Cross st ( Ward No.3 )?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. The value decreased to Rs 1,340 per sq.ft in 2017 from Rs 2,000 per sq.ft in 2012.

What is the land classification for Arul Nagar Cross st ( Ward No.3 )?

The land classification for Arul Nagar Cross st ( Ward No.3 ) is Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Arul Nagar Cross st ( Ward No.3 )?

The stamp duty for property in Arul Nagar Cross st is 7%, while the registration fee is 2%. For example, for a 1,000 sq.ft plot valued at Rs 22,00,000, the total stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000.

Which office handles property registrations in Madhavaram?

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