Guideline Value for Arul Nagar Ext

Arul Nagar Ext guideline value

The current guideline value of Arul Nagar Ext is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Arul Nagar Ext has changed

The guideline value for Arul Nagar Ext has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 1,000 per sq.ft. This value remained the same in the subsequent revision in 2012. However, in 2017, the guideline value decreased to Rs 670 per sq.ft. Following this, there was a significant increase in 2023 to Rs 1,000 per sq.ft, and then a further increase to Rs 1,100 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Arul Nagar Ext is below this median.

• Arul Nagar: Rs 2,200 per sq.ft (2024)
• Ashok Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Ashok Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Ashok Nagar East Street: Rs 2,200 per sq.ft (2024)
• Ashok Nagar North Street: Rs 2,200 per sq.ft (2024)
• Ashok Nagar South Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Nagar Ext

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty is charged at 7%, which totals Rs 77,000, and the registration fee is charged at 2%, amounting to Rs 22,000. Together, the total fees would be Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arul Nagar Ext?

The Sub Registrar Office that covers Arul Nagar Ext is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Irumpuliyur. 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 compared against the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Arul Nagar Ext?

The current guideline value of Arul Nagar Ext is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Arul Nagar Ext?

Arul Nagar Ext is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property in Arul Nagar Ext?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Which Sub Registrar Office covers the area of Arul Nagar Ext?

The Tambaram Joint 1 Sub Registrar Office covers Arul Nagar Ext, located at No.26, Mes Road, East Tambaram, Chennai-600059.