Guideline Value for Arul Nagar

Arul Nagar guideline value

The current guideline value of Arul Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Soorapattu village under the Ambattur Sub Registrar Office (SRO). The land classification for this street is Residential Class I 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 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. The value increased significantly to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 has raised it to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the value dropped by 33% from the 2012 figure to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Soorapattu

In Soorapattu, there are 115 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft, with the median value being Rs 1,300 per sq.ft. The guideline value for Arul Nagar is above this median.

• Anna Street: Rs 1,300 per sq.ft (2024)
• Annai Therasa Street: Rs 1,100 per sq.ft (2024)
• Annai Nagar: Rs 1,400 per sq.ft (2024)
• Annai Indira Nagar Main Road: Rs 1,100 per sq.ft (2024)
• Annai Indira Nagar: Rs 1,100 per sq.ft (2024)
• Annai Avenue: Rs 1,400 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Soorapattu. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware of the current guideline value to avoid discrepancies 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 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

Which Sub Registrar Office covers Arul Nagar?

The Ambattur Sub Registrar Office covers Arul Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the stamp duty for property in Arul Nagar?

The stamp duty for property in Arul Nagar is calculated at 7% of the guideline value or sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.