Guideline Value for Sri Arunachalam Nagar

Sri Arunachalam Nagar guideline value

The current guideline value of Sri Arunachalam Nagar is Rs 2,300 per sq.ft, effective from 1 July 2024. This area is located in Kovur village, under the Kunrathur SRO, and is classified as Mixed Type - III land.

How the guideline value of Sri Arunachalam Nagar has changed

In the 2017 revision, the guideline value was set at Rs 871 per sq.ft. The significant revision in 2024 raised this figure to Rs 2,300 per sq.ft, marking an increase of 164% over the seven-year period. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

This increase reflects the changes in the property market and the adjustments made in the guideline values over the years. The latest revision in 2024 indicates a notable rise, positioning Sri Arunachalam Nagar above the median guideline value of Rs 1,650 per sq.ft for other streets in Kovur.

Guideline values in Kovur

Kovur village has 91 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, and Sri Arunachalam Nagar's 2024 value is above this median.

• Sri Annai nagar: Rs 1,650 per sq.ft (2024)
• Sri Ambal Nagar Extn: Rs 1,650 per sq.ft (2024)
• Sri Ambal Nagar Annex Extension: Rs 1,650 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,650 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,650 per sq.ft (2024)
• Sri Adilkshmi Nagar Annexe: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Arunachalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,300 per sq.ft, the total guideline value would be Rs 23,00,000. The stamp duty, charged at 7%, would amount to Rs 1,61,000, while the registration fee at 2% would be Rs 46,000, totaling Rs 2,07,000. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Sri Arunachalam Nagar?

The Sub Registrar Office that covers Sri Arunachalam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Kovur. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, as determined by the local registration authority. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Sri Arunachalam Nagar?

The current guideline value of Sri Arunachalam Nagar is Rs 2,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 871 per sq.ft to Rs 2,300 per sq.ft, which is a rise of 164%.

What is the median guideline value for streets in Kovur?

The median guideline value for streets in Kovur is Rs 1,650 per sq.ft, with Sri Arunachalam Nagar's value being above this median.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Sri Arunachalam Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 23,00,000 would incur a stamp duty of Rs 1,61,000.