Guideline Value for Arunthava Nagar

Arunthava Nagar guideline value

The current guideline value of Arunthava Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Malaipattu village under the Sunguvarchattram SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Arunthava Nagar has changed

Over the years, the guideline value of Arunthava Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. However, this figure increased significantly to Rs 200 per sq.ft in the 2023 revision and has remained the same in the 2024 revision, indicating a 49% increase from 2017 to 2023. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, but overall, from 2012 to 2024, it has not changed, remaining at Rs 200 per sq.ft. The consistency in the guideline value from 2023 to 2024 indicates stability in this area.

Guideline values in Malaipattu

Malaipattu village has a total of 36 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,181 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, which aligns with the 2024 figure for Arunthava Nagar.

• Anna Street: Rs 150 per sq.ft (2024)
• Anna Nagar: Rs 200 per sq.ft (2024)
• Ambethkar Street: Rs 200 per sq.ft (2024)
• Bharathidhasan Street: Rs 150 per sq.ft (2024)
• Bhavani Street: Rs 150 per sq.ft (2024)
• Agraharam: Rs 441 per sq.ft (2024)

Stamp duty and registration fee for property in Arunthava Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. 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 more detailed calculations.

Which Sub Registrar Office covers Arunthava Nagar?

The Sub Registrar Office that covers Arunthava Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Malaipattu. It serves as a benchmark for determining the minimum value of the property, which is essential for calculating stamp duty and registration fees.

When a property transaction occurs, the guideline value is used to ensure that the sale price is not undervalued for tax purposes. This means that buyers and sellers must consider the guideline value when negotiating prices to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Arunthava Nagar?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a drop to Rs 134 per sq.ft in 2017 before returning to Rs 200 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Arunthava Nagar?

Arunthava Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, on a 1,000 sq.ft plot valued at Rs 2,00,000, the total fees would amount to Rs 18,000.

Where can I find the Sub Registrar Office for Arunthava Nagar?

The Sub Registrar Office for Arunthava Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Sunguvarchattram registration zone. You can find more details by visiting the provided link.