Guideline Value for Arunodhayam Nagar

Arunodhayam Nagar guideline value

The current guideline value of Arunodhayam Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village and falls under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Arunodhayam Nagar has changed

Over the years, the guideline value of Arunodhayam Nagar has seen several revisions. Starting from the 2002 revision, the guideline value was Rs 61 per sq.ft. This increased to Rs 108 per sq.ft in 2003, marking a change of +77%. The value continued to rise significantly, reaching Rs 668 per sq.ft in 2007, which was an increase of +519%. In 2012, the guideline value was Rs 2,500 per sq.ft, reflecting a substantial increase of +274% from the previous revision. However, this figure dropped to Rs 1,675 per sq.ft in 2017, a decrease of -33%.

The guideline value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,750 per sq.ft in 2024, which represents an increase of +10%. Overall, from 2002 to 2024, the guideline value has increased by +4,408%.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft. The guideline value for Arunodhayam Nagar is equal to the median value of Rs 2,750 per sq.ft. Below are other streets in Nanmangalam:

• Arul Murugan Nandavanam Nagar: Rs 2,750 per sq.ft (2024)
• Avia Enclave(Balakrishnan Street): Rs 2,750 per sq.ft (2024)
• Avvai Nagar: Rs 3,850 per sq.ft (2024)
• Avviyar Street: Rs 2,750 per sq.ft (2024)
• ANNA Street: Rs 3,300 per sq.ft (2024)
• Baharthiyar Street: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Arunodhayam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 further calculations.

Which Sub Registrar Office covers Arunodhayam Nagar?

The Sub Registrar Office that covers Arunodhayam Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Nanmangalam

The guideline value is a crucial factor in the registration process of property transactions in Nanmangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial obligations involved in the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly impact the total costs associated with the property transfer.

Frequently asked questions

What is the current guideline value of Arunodhayam Nagar?

The current guideline value of Arunodhayam Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 61 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +4,408% over the years.

What are the stamp duty rates for property in Arunodhayam Nagar?

The stamp duty for property transactions in Arunodhayam Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Arunodhayam Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value for streets in Nanmangalam?

The median guideline value for streets in Nanmangalam is Rs 2,750 per sq.ft, which is the same as the current guideline value for Arunodhayam Nagar.