Guideline Value for SRI ARUNACHALA NAGAR

Sri Arunachala Nagar guideline value

The current guideline value of Sri Arunachala Nagar in Mitnamalle village is Rs 802 per sq.ft, effective from 1 July 2024. This area falls under the Avadi Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Sri Arunachala Nagar has changed

The guideline value for Sri Arunachala Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft. This remained until 2017, when it decreased to Rs 402 per sq.ft. The value then increased to Rs 600 per sq.ft in 2023, and subsequently rose to Rs 802 per sq.ft in 2024, marking a 34% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 600 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 34%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mitnamalle

In Mitnamalle, there are 53 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,550 per sq.ft. The median value is Rs 802 per sq.ft, which is the same as the guideline value for Sri Arunachala Nagar.

• Sri Krishna Nagar: Rs 802 per sq.ft (2024)
• Sri Nagar: Rs 802 per sq.ft (2024)
• Sri Nagar Extn: Rs 804 per sq.ft (2024)
• Sri Ragavaa Nagar: Rs 802 per sq.ft (2024)
• Sri Ram Avenue: Rs 802 per sq.ft (2024)
• Sri Sapthagiri Nagar: Rs 808 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Arunachala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 802 per sq.ft, the total guideline value would be Rs 8,02,000. The stamp duty at 7% would amount to Rs 56,140, while the registration fee at 2% would be Rs 16,040. Together, the total cost for stamp duty and registration would be Rs 72,180. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Arunachala Nagar?

Sri Arunachala Nagar is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial aspect when registering property transactions in Mitnamalle. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value is referenced to ensure compliance with local regulations. This value helps in calculating the total costs involved in the registration process, ensuring transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Sri Arunachala Nagar?

The current guideline value of Sri Arunachala Nagar is Rs 802 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 802 per sq.ft in 2024.

What is the land classification of Sri Arunachala Nagar?

Sri Arunachala Nagar is classified as Residential Class II Type - I.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated in Sri Arunachala Nagar?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 802 per sq.ft, the total guideline value would be Rs 8,02,000, leading to a stamp duty of Rs 56,140.