Guideline Value for Arul Neri Nagar

Arul Neri Nagar guideline value

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

How the guideline value of Arul Neri Nagar has changed

Over the years, the guideline value of Arul Neri Nagar has undergone several revisions. The earliest recorded revision was in 2012, where the guideline value was set at Rs 1,800 per sq.ft. In 2017, this value decreased to Rs 1,206 per sq.ft, marking a decline of 33%. The 2023 revision saw a significant increase to Rs 1,800 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

Between 2017 and 2023, there was a remarkable increase of 49% in the guideline value. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, indicating that Arul Neri Nagar's 2024 figure is below this median.

• Arul Neri Nagar Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total 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, bringing the total fees to Rs 1,71,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arul Neri Nagar?

The Sub Registrar Office covering Arul Neri Nagar 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 plays a crucial role in the registration process of property transactions in Rajakilpakkam. It is the minimum value set by the government for calculating stamp duty and registration fees, ensuring that the property is not undervalued during the sale.

When buying or selling property, the guideline value is considered alongside the sale price. The stamp duty and registration fees are calculated based on the higher of the two values, ensuring compliance with legal requirements and proper documentation.

Frequently asked questions

What is the current guideline value of Arul Neri Nagar?

The current guideline value of Arul Neri Nagar 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 changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Arul Neri Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 19,00,000, the total fees would amount to Rs 1,71,000.

Which registration office covers Arul Neri Nagar?

The Selaiyur Sub Registrar Office covers Arul Neri Nagar, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the classification of land in Arul Neri Nagar?

Arul Neri Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.