Guideline Value for Aruna Colony

Aruna Colony guideline value

The current guideline value of Aruna Colony, located in Kodambakkam village under the Ashok Nagar SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Aruna Colony has changed

The guideline value for Aruna Colony has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,210 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in 2012, marking a 396% rise. However, it then decreased to Rs 4,020 per sq.ft in 2017, reflecting a 33% decline. The value rose again to Rs 6,000 per sq.ft in 2023, and most recently to Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 445%, showcasing significant changes over the years.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for the area is Rs 4,900 per sq.ft, placing Aruna Colony's 2024 figure above this median.

• Arunachalam Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 8th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 7th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 6th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 5th Street: Rs 3,300 per sq.ft (2024)
• Aryagowder Road (Block 60, T.S 44): Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Aruna Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aruna Colony?

The Sub Registrar Office that covers Aruna Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Aruna Colony?

The current guideline value of Aruna Colony is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,210 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 445%.

What are the stamp duty rates for properties in Aruna Colony?

The stamp duty for properties in Aruna Colony is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the land classification of Aruna Colony?

Aruna Colony is classified as Residential Class II Type - II, indicating its designation for residential use.