Guideline Value for Arutperum Jyothi Nagar

Arutperum Jyothi Nagar guideline value

The current guideline value of Arutperum Jyothi Nagar is Rs 825 per sq.ft, effective from 1 July 2024. This area is located in Melamaiyur village under the Chengleput Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Arutperum Jyothi Nagar has changed

The guideline value for Arutperum Jyothi Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 333 per sq.ft. This increased significantly to Rs 750 per sq.ft in 2012, but then saw a decrease to Rs 502 per sq.ft in 2017. The 2023 revision raised it to Rs 750 per sq.ft once again, and the most recent revision in 2024 has increased the value to Rs 825 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 125%, but it then decreased by 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 148%.

Guideline values in Melamaiyur

In Melamaiyur, there are 37 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,000 per sq.ft. The median value for these streets is Rs 1,212 per sq.ft, placing Arutperum Jyothi Nagar's 2024 figure below this median.

• ANNAI PADMAVATHY NAGAR Phase -I,II,III,IV&Extension: Rs 1,212 per sq.ft (2024)
• Andal Nagar: Rs 1,212 per sq.ft (2024)
• Ammaiyappar Nagar: Rs 1,322 per sq.ft (2024)
• Bhavani Nagar: Rs 1,100 per sq.ft (2024)
• Bhavani Nagar Extension: Rs 1,100 per sq.ft (2024)
• Akshaya Nagar: Rs 1,322 per sq.ft (2024)

Stamp duty and registration fee for property in Arutperum Jyothi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arutperum Jyothi Nagar?

The Sub Registrar Office that covers Arutperum Jyothi Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Melamaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must refer to the guideline value to ensure compliance with legal requirements during registration.

When a property is sold, the guideline value is used to calculate the applicable taxes, ensuring that both parties are aware of their financial obligations. This value helps maintain transparency in property transactions and is essential for the proper documentation of ownership transfers.

Frequently asked questions

What is the current guideline value of Arutperum Jyothi Nagar?

The current guideline value of Arutperum Jyothi Nagar is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 333 per sq.ft in 2007 to Rs 825 per sq.ft in 2024, reflecting a total increase of 148% over this period.

What is the median guideline value in Melamaiyur?

The median guideline value for streets in Melamaiyur is Rs 1,212 per sq.ft, which is higher than the current value of Arutperum Jyothi Nagar.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at Rs 825 per sq.ft incurs a total of Rs 74,250 in fees.

Where can I find the Sub Registrar Office for Arutperum Jyothi Nagar?

The Sub Registrar Office for Arutperum Jyothi Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.