Guideline Value for SRI SANKARA ARUPADAI CITY

Sri Sankara Arupadai City guideline value

The current guideline value for Sri Sankara Arupadai City is Rs 248 per sq.ft, effective from 1 July 2024. This property is located in Periyamullavoyal village under the Thiruvottiyur SRO, classified as Residential Special Type - I.

How the guideline value of Sri Sankara Arupadai City has changed

The guideline value for Sri Sankara Arupadai City has undergone several revisions over the years. The 2012 revision recorded a value of Rs 225 per sq.ft, which then decreased to Rs 151 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 226 per sq.ft, marking a 50% rise. The most recent revision in 2024 set the guideline value at Rs 248 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Periyamullavoyal

In Periyamullavoyal, there are 7 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 248 to Rs 350 per sq.ft. The median value among these streets is Rs 248 per sq.ft, placing Sri Sankara Arupadai City at this median value.

• Outer Ring Road: Rs 248 per sq.ft (2024)
• Balamurugan Nagar: Rs 248 per sq.ft (2024)
• As Nagar: Rs 248 per sq.ft (2024)
• Annai Nagar: Rs 248 per sq.ft (2024)
• Agp Nagar: Rs 248 per sq.ft (2024)
• Vivekananda Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sankara Arupadai City

For a 1,000 sq.ft plot at the current guideline value of Rs 248 per sq.ft, the total guideline value amounts to Rs 2,48,000. The stamp duty at 7% would be Rs 17,360, and the registration fee at 2% would be Rs 4,960, bringing the total cost for these fees to Rs 22,320. It is essential to note that the 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 Sankara Arupadai City?

The Sub Registrar Office that covers Sri Sankara Arupadai City is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Periyamullavoyal. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value for Sri Sankara Arupadai City?

The current guideline value for Sri Sankara Arupadai City is Rs 248 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, then increased to Rs 226 per sq.ft in 2023, and finally to Rs 248 per sq.ft in 2024.

What is the land classification for Sri Sankara Arupadai City?

Sri Sankara Arupadai City is classified as Residential Special Type - I under the guideline value register.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 22,320 in fees.

Where is the Sub Registrar Office for Sri Sankara Arupadai City located?

The Sub Registrar Office covering Sri Sankara Arupadai City is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.