Guideline Value for Arul Nagar

Arul Nagar guideline value

The current guideline value of Arul Nagar, located in Jampuli village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Arul Nagar has changed

Over the years, the guideline value of Arul Nagar has seen several revisions. The 2012 revision recorded a guideline value of Rs 2,000 per sq.ft. This amount decreased by 33% to Rs 1,340 per sq.ft in the 2017 revision. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,700 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,450 per sq.ft, placing Arul Nagar's 2024 figure below that median.

• Arul Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Association Cross Street / Road: Rs 1,700 per sq.ft (2024)
• Association Road 1st Street: Rs 1,700 per sq.ft (2024)
• Association Street / Road: Rs 1,700 per sq.ft (2024)
• Association Road 2nd Street: Rs 1,700 per sq.ft (2024)
• Annai Velankanni Nagar Extension: 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 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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arul Nagar?

The Madhavaram Sub Registrar Office covers Arul Nagar and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Jampuli, the guideline value is a critical factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid based on the property’s value.

At the time of registration, the guideline value is compared with the sale price, and the duty is charged on whichever is higher. This ensures that the government receives appropriate fees based on the property's worth as established by the guideline values.

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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Arul Nagar?

Arul Nagar is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in Arul Nagar.

How is the stamp duty calculated for properties in Arul Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7% and a registration fee of Rs 44,000 at 2%.