Guideline Value for Arul Nagar

Arul Nagar guideline value

The current guideline value of Arul Nagar, located in Irumpuliyur village, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as 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. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017. Following this, the value rose sharply to Rs 2,000 per sq.ft in 2023 and is now set at Rs 2,200 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall increase from 2007 to 2024 is a substantial 267%, reflecting the various changes in the guideline values over the years.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which aligns with the current guideline value of Arul Nagar.

• Arul Nagar Ext: Rs 1,100 per sq.ft (2024)
• Ashok Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Ashok Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Ashok Nagar East Street: Rs 2,200 per sq.ft (2024)
• Ashok Nagar North Street: Rs 2,200 per sq.ft (2024)
• Ashok Nagar South Street: Rs 2,200 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 2,200 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 cost for these 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 details.

Which Sub Registrar Office covers Arul Nagar?

The Sub Registrar Office that covers Arul Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded at a fair price.

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 financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Arul Nagar?

The current guideline value of Arul Nagar 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 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification for Arul Nagar?

Arul Nagar is classified as Residential Special Type - II, which indicates its suitability for residential development.

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

The Sub Registrar Office for Arul Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

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, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.