Guideline Value for Arunachalam Avenue

Arunachalam Avenue guideline value

The current guideline value of Arunachalam Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Arunachalam Avenue has changed

Over the years, the guideline value of Arunachalam Avenue has seen significant changes. The 2007 revision recorded a guideline value of Rs 175 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in 2012, marking a rise of 757%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, representing a 49% increase. The current guideline value, effective from 1 July 2024, is Rs 1,650 per sq.ft, reflecting a 10% increase from the 2023 revision.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 843%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the guideline value of Arunachalam Avenue.

• Ark Nagar Extension: Rs 1,650 per sq.ft (2024)
• ARK Nagar: Rs 1,650 per sq.ft (2024)
• ARK Avenue Extn, I, II and III: Rs 1,650 per sq.ft (2024)
• ARK Avenue: Rs 1,650 per sq.ft (2024)
• Arav Garden: Rs 3,030 per sq.ft (2024)
• Ashok Nandavanam: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost Rs 1,48,500. It is important to note that the 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 further assistance.

Which Sub Registrar Office covers Arunachalam Avenue?

The Sub Registrar Office that covers Arunachalam Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Varadarajapuram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to calculate applicable fees.

When a property is sold, the guideline value serves as a reference for the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that both parties are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Arunachalam Avenue?

The current guideline value of Arunachalam Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 175 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 843%.

What is the stamp duty for property in Arunachalam Avenue?

The stamp duty for property in Arunachalam Avenue is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Arunachalam Avenue?

The land classification for Arunachalam Avenue is Residential Special Type - II.