Guideline Value for Arul Nagar Road (Ward-3)

Arul Nagar Road (Ward-3) guideline value

The current guideline value for Arul Nagar Road (Ward-3) is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Arul Nagar Road (Ward-3) has changed

The guideline value for Arul Nagar Road (Ward-3) has undergone several revisions over the years. The earliest available revision is from 2012, where the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, before increasing again to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 sees the value rise to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not provide 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. The median guideline value is Rs 1,600 per sq.ft, placing Arul Nagar Road (Ward-3) above this median at Rs 2,200 per sq.ft.

• 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 (Ward-03): 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 Road (Ward-3)

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.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Arul Nagar Road (Ward-3)?

The Sub Registrar Office that covers Arul Nagar Road (Ward-3) 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 metric used during property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that all legal requirements are met, protecting both the buyer and seller in the process.

Frequently asked questions

What is the current guideline value of Arul Nagar Road (Ward-3)?

The current guideline value of Arul Nagar Road (Ward-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 2012 to Rs 1,340 per sq.ft in 2017, then back up 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 Road (Ward-3)?

Arul Nagar Road (Ward-3) is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

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.

Where can I find the Sub Registrar Office for Arul Nagar Road (Ward-3)?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in this area.