Guideline Value for Arul Nagar Main Road

Arul Nagar Main Road guideline value

The current guideline value of Arul Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Jampuli village under the Madhavaram SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Arul Nagar Main Road has changed

The guideline value has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. However, the 2023 revision increased it back to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% rise from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase, indicating fluctuations in the guideline value over the years.

Guideline values in Jampuli

In Jampuli, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft. The median value is Rs 2,450 per sq.ft, placing Arul Nagar Main Road's 2024 figure below this median.

• Arul Nagar: Rs 2,200 per sq.ft (2024)
• Association Cross Street / Road: Rs 1,700 per sq.ft (2024)
• Association Road 1st Street: Rs 1,700 per sq.ft (2024)
• Association Street / Road: Rs 1,700 per sq.ft (2024)
• Associaton Road 2nd Street: Rs 1,700 per sq.ft (2024)
• Annai Velankanni Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Nagar Main Road

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 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 Main Road?

The Sub Registrar Office that covers Arul Nagar Main Road 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 Jampuli

The guideline value is a crucial factor when registering property in Jampuli. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a legitimate value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Arul Nagar Main Road?

The current guideline value of Arul Nagar Main Road 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 changed from Rs 2,000 in 2012 to Rs 1,340 in 2017, then back to Rs 2,000 in 2023, and finally to Rs 2,200 in 2024. This represents a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023.

What is the land classification of Arul Nagar Main Road?

Arul Nagar Main Road falls under the Residential Class II Type - I land classification.

What are the registration fees for property in Arul Nagar Main Road?

The registration fees include a stamp duty of 7% and a registration fee of 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles property registrations in Jampuli?

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