Guideline Value for Arul Nagar

Arul Nagar guideline value

The current guideline value of Arul Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Nemili_B village, under the Sriperumpudur SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Arul Nagar has changed

The guideline value register for Arul Nagar shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 300 per sq.ft. However, in the 2024 revision, it decreased by 17% to Rs 250 per sq.ft.

This recent change brings the guideline value of Arul Nagar in line with the median value of Rs 250 per sq.ft for the 97 streets in Nemili_B under the Sriperumpudur SRO, which range from Rs 150 to Rs 1,500 per sq.ft.

Guideline values in Nemili_B

In Nemili_B, the guideline values vary significantly across different streets. The current figure for Arul Nagar matches the median value of Rs 250 per sq.ft. Here are the guideline values for other streets in Nemili_B:

• Asina nagar: Rs 200 per sq.ft (2024)
• Bajanai Koil Cross Street: Rs 200 per sq.ft (2024)
• Bajanai Koil Street: Rs 250 per sq.ft (2024)
• Balaji Nagar: Rs 300 per sq.ft (2024)
• Ambrose Garden: Rs 150 per sq.ft (2024)
• Bangaru Ammal Nagar: Rs 250 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 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total cost for these fees to Rs 22,500. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Arul Nagar?

The Sub Registrar Office that covers Arul Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nemili_B. It serves as a reference point for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation rather than the sale price alone.

When buying or selling property in this area, it is essential to be aware of the guideline value, as it affects the overall transaction costs. Buyers should consider this value to estimate their financial obligations accurately during the registration process.

Frequently asked questions

What is the current guideline value of Arul Nagar?

The current guideline value of Arul Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

The guideline value for Arul Nagar was Rs 300 per sq.ft in 2023 and decreased by 17% to Rs 250 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Arul Nagar?

Arul Nagar falls under the Residential Class II Type - I land classification. This classification is important for understanding the usage and development potential of the land.

Where can I find the Sub Registrar Office for Arul Nagar?

The Sub Registrar Office covering Arul Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles all registration-related activities for the area.

How is stamp duty calculated for property in Arul Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot with a guideline value of Rs 250 per sq.ft would incur a stamp duty of Rs 17,500.