Guideline Value for SREE ARUNACHALA NAGAR

Sree Arunachala Nagar guideline value

The current guideline value of Sree Arunachala Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - IV.

How the guideline value of Sree Arunachala Nagar has changed

The guideline value for Sree Arunachala Nagar has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, the subsequent revisions saw an increase, with the 2023 revision raising the value to Rs 1,500 per sq.ft, and the most recent 2024 revision increasing it further to Rs 1,650 per sq.ft, reflecting a 10% rise from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village comprises 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Sree Arunachala Nagar's 2024 figure above that median.

• Sree Meenakchi Avenue: Rs 1,100 per sq.ft (2024)
• Sree Sai Sakthi Nagar: Rs 1,100 per sq.ft (2024)
• Sree Sathyasai Nagar Extention: Rs 660 per sq.ft (2024)
• Sree Siva Sakthi Nagar: Rs 660 per sq.ft (2024)
• South Ganapathy Nagar (Pa): Rs 660 per sq.ft (2024)
• S.K.R. Avenue (Ward -19): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Arunachala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 information.

Which Sub Registrar Office covers Sree Arunachala Nagar?

The Sub Registrar Office that covers Sree Arunachala Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Ninna Karai. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, it is essential to consider the guideline value, as it impacts the overall cost of the transaction. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can influence the total expenses incurred during the purchase.

Frequently asked questions

What is the current guideline value of Sree Arunachala Nagar?

The current guideline value of Sree Arunachala Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the guideline values of other streets in Ninna Karai?

Other streets in Ninna Karai have varying guideline values, with Sree Meenakchi Avenue and Sree Sai Sakthi Nagar both at Rs 1,100 per sq.ft, while Sree Sathyasai Nagar Extention, Sree Siva Sakthi Nagar, and South Ganapathy Nagar (Pa) are at Rs 660 per sq.ft.

What is the stamp duty rate for properties in Sree Arunachala Nagar?

The stamp duty rate for properties in Sree Arunachala Nagar is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Sree Arunachala Nagar?

The Sub Registrar Office for Sree Arunachala Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.