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 area is located in Sokandi village under the Sunguvarchattram SRO, classified as Residential Special Type - III.

How the guideline value of Arul Nagar has changed

The guideline value for Arul Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 60 per sq.ft, which increased significantly to Rs 250 per sq.ft in the 2012 revision, marking a rise of 317%. However, in the 2017 revision, the value decreased to Rs 167 per sq.ft, a drop of 33%. The guideline value then rose to Rs 250 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 50%. The overall change from the 2007 revision to the 2024 revision is an increase of 317%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sokandi

Sokandi village has 35 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 181 to Rs 1,000 per sq.ft. The median guideline value in this area is Rs 300 per sq.ft, placing Arul Nagar's 2024 figure below that median.

• Annai Nagar: Rs 250 per sq.ft (2024)
• Anandha kabalishwarar nagar extension.: Rs 800 per sq.ft (2024)
• Anandam Kabaleeswarar Co-Operative Nagar: Rs 600 per sq.ft (2024)
• Anada Kabaleeswarar Nagar Extn-I: Rs 800 per sq.ft (2024)
• Bharathiyar Street: Rs 275 per sq.ft (2024)
• Abu Nagar: Rs 275 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 amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total fees Rs 22,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Arul Nagar?

The Sub Registrar Office that covers Arul Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sokandi. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017, and returned to Rs 250 per sq.ft in the 2023 and 2024 revisions.

What is the median guideline value in Sokandi?

The median guideline value in Sokandi village is Rs 300 per sq.ft, with Arul Nagar's 2024 figure being below this median.

What are the stamp duty and registration fees for a property in Arul Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which office handles property registrations in Arul Nagar?

The Sunguvarchattram Sub Registrar Office handles property registrations in Arul Nagar, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.