Guideline Value for High Way Park

High Way Park guideline value

The current guideline value of High Way Park in Arayapakkam village is Rs 120 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam SRO and is classified as Residential Class I Type - I.

How the guideline value of High Way Park has changed

The guideline value for High Way Park has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 25 per sq.ft. This saw a significant increase to Rs 120 per sq.ft in 2012, marking a rise of 380%. However, from 2012 to 2017, the value decreased to Rs 80 per sq.ft, a drop of 33%. The value then rose again to Rs 120 per sq.ft in both 2023 and 2024, showing no change from the previous year.

In summary, from 2007 to 2024, the overall increase in the guideline value is 380%. The revisions for 2002 and 2003 do not have figures recorded for High Way Park.

Guideline values in Arayapakkam

In Arayapakkam, there are 15 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 120 to Rs 400 per sq.ft, with a median value of Rs 203 per sq.ft. The guideline value for High Way Park is below this median.

• G.K. Sri Balaji Nagar: Rs 203 per sq.ft (2024)
• Lake View Colony Phase -I: Rs 175 per sq.ft (2024)
• Ramya Reng & Ramya Ramaa: Rs 202 per sq.ft (2024)
• Rayal City Phase-II: Rs 200 per sq.ft (2024)
• Roja Nagar: Rs 203 per sq.ft (2024)
• Royal City Phase - I Ext: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in High Way Park

For a 1,000 sq.ft plot at the current guideline value of Rs 120 per sq.ft, the total guideline value amounts to Rs 1,20,000. The stamp duty at 7% would be Rs 8,400, and the registration fee at 2% would be Rs 2,400, bringing the total charges to Rs 10,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers High Way Park?

The Sub Registrar Office that covers High Way Park is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Arayapakkam, the guideline value is an essential factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

The guideline value ensures that the property is registered at a value that reflects its worth according to government standards. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of High Way Park?

The current guideline value of High Way Park is Rs 120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 25 per sq.ft in 2007 to Rs 120 per sq.ft in 2012, then decreased to Rs 80 per sq.ft in 2017, before returning to Rs 120 per sq.ft in 2023 and 2024.

What are the guideline values of other streets in Arayapakkam?

Other streets in Arayapakkam have a 2024 guideline value ranging from Rs 120 to Rs 400 per sq.ft, with a median of Rs 203 per sq.ft. High Way Park's value is below this median.

What are the stamp duty and registration fees for property in High Way Park?

For a 1,000 sq.ft plot at the current guideline value, the total charges would be Rs 10,800, which includes stamp duty and registration fees based on the guideline value.

Which office handles registrations for High Way Park?

The Madurandakam Sub Registrar Office handles registrations for High Way Park, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.