Guideline Value for Arul Nagar Extension

Arul Nagar Extension guideline value

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

How the guideline value of Arul Nagar Extension has changed

Over the years, the guideline value for Arul Nagar Extension has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and finally to Rs 2,200 per sq.ft in the 2024 revision. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have 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 Extension is above this median.

• Arul Nagar Cross 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 3rd 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)
• Arul Nagar 2nd st (Ward No.3): Rs 2,200 per sq.ft (2024)
• Arul Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Nagar Extension

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 at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arul Nagar Extension?

The Sub Registrar Office that covers Arul Nagar Extension is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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 minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Arul Nagar Extension?

The current guideline value of Arul Nagar Extension 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 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Arul Nagar Extension?

Arul Nagar Extension is classified as Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Arul Nagar Extension?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.