Guideline Value for SRI ARUNACHALA CITY

Sri Arunachala City guideline value

The current guideline value for Sri Arunachala City, located in Maele Manapakkam village under the Chengleput Joint II SRO, is Rs 301 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Arunachala City has changed

The guideline value for Sri Arunachala City has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was set at Rs 300 per sq.ft. In 2017, the value decreased to Rs 201 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the guideline value back up to Rs 300 per sq.ft. The most recent revision in 2024 set the value at Rs 301 per sq.ft, showing no change from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 301 per sq.ft.

Guideline values in Maele Manapakkam

In Maele Manapakkam, there are 14 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 450 per sq.ft. The median value is Rs 301 per sq.ft, which is equal to the current guideline value for Sri Arunachala City. Below are the guideline values for other streets in Maele Manapakkam:

• Sri Balaji Avenue: Rs 301 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 200 per sq.ft (2024)
• Sri Jayalakshmi Nagar: Rs 301 per sq.ft (2024)
• Sri Lakshmi Narayanagar Phase -II: Rs 300 per sq.ft (2024)
• Sri Lakshmi Narayana Nagar Phase -I: Rs 300 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 301 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Arunachala City

For a 1,000 sq.ft plot at the current guideline value of Rs 301 per sq.ft, the total guideline value would be Rs 3,01,000. The stamp duty, charged at 7%, would amount to Rs 21,070, while the registration fee at 2% would be Rs 6,020. Together, the total charges would be Rs 27,090. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Arunachala City?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Maele Manapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the Registration Department and reflects the standard rates for properties in the area.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value for Sri Arunachala City?

The current guideline value for Sri Arunachala City is Rs 301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 setting it at Rs 301 per sq.ft. It was Rs 300 per sq.ft in 2023, Rs 201 per sq.ft in 2017, and Rs 300 per sq.ft in 2012.

What is the land classification for Sri Arunachala City?

The land classification for Sri Arunachala City is Residential Special Type - I, indicating its suitability for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles property registrations for the area.

How is stamp duty calculated for properties in Sri Arunachala City?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 301 per sq.ft, the total guideline value would be Rs 3,01,000, leading to specific stamp duty and registration fees.