Guideline Value for Aruna Nagar Colony Layout (TNGO Colony)

Aruna Nagar Colony Layout (TNGO Colony) guideline value

The current guideline value of Aruna Nagar Colony Layout (TNGO Colony) is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Thalakanancherry village and falls under the Alandur SRO. The land classification for this locality is Residential Class I Type - II.

How the guideline value of Aruna Nagar Colony Layout (TNGO Colony) has changed

The guideline value of Aruna Nagar Colony Layout (TNGO Colony) has seen several revisions over the years. In 2012, the guideline value was Rs 4,000 per sq.ft. This value decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, it significantly increased to Rs 4,000 per sq.ft in 2023, and further rose to Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figure for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value per sq.ft. The current rate of Rs 4,400 per sq.ft is higher than the median value of Rs 3,900 per sq.ft for the 318 streets in Thalakanancherry under the Alandur SRO.

Guideline values in Thalakanancherry

In Thalakanancherry, the guideline values range from Rs 2,200 to Rs 5,500 per sq.ft as per the 2024 revision. The median value for the area is Rs 3,900 per sq.ft, indicating that Aruna Nagar Colony Layout (TNGO Colony) is positioned above this median. Below are the guideline values for other streets in Thalakanancherry:

• Aruljothi Street: Rs 2,800 per sq.ft (2024)
• Arul Jothi Nagar: Rs 2,800 per sq.ft (2024)
• Anna Street: Rs 2,800 per sq.ft (2024)
• Annasalai: Rs 2,800 per sq.ft (2024)
• Ayyappan Nagar: Rs 4,400 per sq.ft (2024)
• Bakthavachalam Nagar 10th Cross Street*: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Aruna Nagar Colony Layout (TNGO Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Aruna Nagar Colony Layout (TNGO Colony)?

The Sub Registrar Office that covers Aruna Nagar Colony Layout (TNGO Colony) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thalakanancherry. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring transparency in the transaction.

When a property is sold, the guideline value is referenced to ensure that the transaction is recorded accurately in the official register. This helps maintain a standard for property valuations within the area, providing a reliable framework for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Aruna Nagar Colony Layout (TNGO Colony)?

The current guideline value of Aruna Nagar Colony Layout (TNGO Colony) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the median guideline value in Thalakanancherry?

The median guideline value for the 318 streets in Thalakanancherry is Rs 3,900 per sq.ft as of 2024.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a plot of 1,000 sq.ft, the total fees would amount to Rs 3,96,000.

Which office handles property registrations in this area?

The Alandur Sub Registrar Office handles property registrations for Aruna Nagar Colony Layout (TNGO Colony), located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.