Guideline Value for Arul Nagar

Arul Nagar guideline value

The current guideline value of Arul Nagar is Rs 2,001 per sq.ft, effective from 1 July 2024. This area is located in Gooduvancheri village, under the Gooduvancheri SRO. The land classification for Arul Nagar is Residential Special Type - II.

How the guideline value of Arul Nagar has changed

The guideline value for Arul Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,340 per sq.ft. This value increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant change of 49%. The current guideline value for 2024 stands at Rs 2,001 per sq.ft, reflecting no change from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Arul Nagar's 2024 guideline value of Rs 2,001 per sq.ft is above this median.

• Avvaiyar Street (Ward 11, Ward 16): Rs 1,200 per sq.ft (2024)
• Annamalai Nagar: Rs 1,200 per sq.ft (2024)
• Bajanai kovil Street: Rs 1,200 per sq.ft (2024)
• Anandhanarayanapuram: Rs 2,000 per sq.ft (2024)
• Balaji Street: Rs 2,001 per sq.ft (2024)
• Balarama Naidu Street: Rs 2,001 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,001 per sq.ft, the total guideline value would be Rs 20,01,000. The stamp duty at 7% would amount to Rs 1,40,070, and the registration fee at 2% would be Rs 40,020, leading to a total of Rs 1,80,090. It is important to note that the 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 details.

Which Sub Registrar Office covers Arul Nagar?

The Sub Registrar Office that covers Arul Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Gooduvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Arul Nagar?

The current guideline value of Arul Nagar is Rs 2,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023, and now to Rs 2,001 per sq.ft in 2024, showing a total increase of 49% from 2017 to 2024.

Which Sub Registrar Office covers Arul Nagar?

The Gooduvancheri Sub Registrar Office covers Arul Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What are the other guideline values in Gooduvancheri?

Other streets in Gooduvancheri have varying guideline values, ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Arul Nagar's value is above this median.

How are stamp duty and registration fees calculated in Arul Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 2,001 per sq.ft would incur a total of Rs 1,80,090 in fees.