Guideline Value for INDUSTRIAL ARIYA (CHEN)

Industrial Ariya (Chen) guideline value

The current guideline value for Industrial Ariya (Chen) is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Sengundram - 1 village under the Chengleput Joint II SRO, classified as Residential Special Type - II.

How the guideline value of Industrial Ariya (Chen) has changed

Over the years, the guideline value for Industrial Ariya (Chen) has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was later reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and currently stands at Rs 1,320 per sq.ft from the 2024 revision. Notably, there are no figures available in the register for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The latest revision from 2023 to 2024 reflects a 10% increase, leading to an overall increase of 10% from 2012 to 2024.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing the guideline value for Industrial Ariya (Chen) above this median.

• Indira*s Orchard Town: Rs 1,100 per sq.ft (2024)
• Jai Nagar (Chen): Rs 770 per sq.ft (2024)
• Hill View Residency Phase -1 (Chen): Rs 1,100 per sq.ft (2024)
• Hill View: Rs 1,807 per sq.ft (2024)
• Hill Grove Nagar (Chen): Rs 1,100 per sq.ft (2024)
• Jamuna Auto Industrial Road (Chen): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Industrial Ariya (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. 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 further calculations.

Which Sub Registrar Office covers Industrial Ariya (Chen)?

The Chengleput Joint II Sub Registrar Office covers Industrial Ariya (Chen). The office is 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 Sengundram - 1

The guideline value is a crucial factor during property registration in Sengundram - 1. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value for Industrial Ariya (Chen)?

The current guideline value for Industrial Ariya (Chen) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft in 2024.

What is the land classification for Industrial Ariya (Chen)?

Industrial Ariya (Chen) is classified as Residential Special Type - II, indicating its intended use for residential purposes.

What are the stamp duty and registration fees for a property in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,18,800 based on the current guideline value.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.