Guideline Value for Arul Neri Nagar Extension

Arul Neri Nagar Extension guideline value

The current guideline value of Arul Neri Nagar Extension is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Arul Neri Nagar Extension has changed

In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease to Rs 1,206 per sq.ft. The value then increased significantly to Rs 1,800 per sq.ft in the 2023 revision, before rising again to Rs 1,900 per sq.ft in the 2024 revision.

Between the 2023 and 2024 revisions, there was a change of +6%. From 2017 to 2023, the increase was +49%. However, from 2012 to 2017, there was a decrease of -33%. Overall, from 2012 to 2024, the guideline value has increased by +6%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value for Arul Neri Nagar Extension is below this median.

• Arul Neri Nagar: Rs 1,900 per sq.ft (2024)
• Arul Neri Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Arish Avenue: Rs 1,300 per sq.ft (2024)
• Appar Street: Rs 2,150 per sq.ft (2024)
• Anna Street: Rs 2,400 per sq.ft (2024)
• Bajanai Koil 1st Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Neri Nagar Extension

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. It is important to note that 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 Neri Nagar Extension?

The Sub Registrar Office that covers Arul Neri Nagar Extension is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Rajakilpakkam

The guideline value is a crucial factor when buying or selling property in Rajakilpakkam, as it determines the minimum value at which a property can be registered. This value is used by the registration authorities to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration process and to avoid any legal issues.

Frequently asked questions

What is the current guideline value of Arul Neri Nagar Extension?

The current guideline value of Arul Neri Nagar Extension is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 1,800 per sq.ft in 2012, decreased to Rs 1,206 per sq.ft in 2017, increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the stamp duty for property in Arul Neri Nagar Extension?

The stamp duty for property in Arul Neri Nagar Extension is calculated at 7% of the guideline value. For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification of Arul Neri Nagar Extension?

Arul Neri Nagar Extension is classified as Residential Class I Type - II, which is important for understanding the permissible uses of the land in this area.