Guideline Value for Arunthathipalayam

Arunthathipalayam guideline value

The current guideline value of Arunthathipalayam is Rs 2,200 per sq.ft, effective from 1 July 2024. This village is part of Poonthamallee under the Poonamallee SRO and is classified as Residential Class II Type - I.

How the guideline value of Arunthathipalayam has changed

Over the years, the guideline value of Arunthathipalayam has undergone several revisions. The earliest recorded figure is from 2007, which was Rs 300 per sq.ft. This value saw a significant increase to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The value then increased again to Rs 2,000 per sq.ft in 2023, resulting in a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 633%.

Guideline values in Poonthamallee

Poonthamallee consists of 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, which is equal to the current value of Arunthathipalayam.

• Ashtalakshmi nagar: Rs 2,200 per sq.ft (2024)
• Arivolli Nagar: Rs 2,200 per sq.ft (2024)
• A.S.R Rasi Garden: Rs 2,210 per sq.ft (2024)
• Astalakshmi nagar: Rs 2,200 per sq.ft (2024)
• Avadi road: Rs 2,740 per sq.ft (2024)
• Bajnai koil street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arunthathipalayam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is calculated at 7%, which totals Rs 1,54,000, and the registration fee is charged at 2%, amounting to Rs 44,000. Therefore, the total cost for stamp duty and registration fees together is Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arunthathipalayam?

The Sub Registrar Office that covers Arunthathipalayam is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees. Buyers and sellers must be aware that the guideline value is used to assess the transaction value, ensuring that the property is registered at a value that reflects its worth.

When a property is sold, the guideline value ensures that the transaction is recorded accurately in the official registry. This helps in maintaining transparency in property transactions and prevents undervaluation or overvaluation of properties. It is essential for both buyers and sellers to understand how the guideline value impacts their financial responsibilities during the buying or selling process.

Frequently asked questions

What is the current guideline value of Arunthathipalayam?

The current guideline value of Arunthathipalayam is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 633% over the years.

What is the land classification for Arunthathipalayam?

Arunthathipalayam is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Arunthathipalayam?

The Sub Registrar Office for Arunthathipalayam is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Arunthathipalayam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.