Guideline Value for The Ark Avenue

The Ark Avenue guideline value

The current guideline value of The Ark Avenue is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Agraharam Male village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

How the guideline value of The Ark Avenue has changed

The guideline value of The Ark Avenue has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 700 per sq.ft. However, it decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 700 per sq.ft in the 2023 revision, and further rose to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Agraharam Male

In Agraharam Male, there are 16 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 1,400 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the guideline value of The Ark Avenue.

• The Ark Enclave: Rs 770 per sq.ft (2024)
• Uptown Park: Rs 770 per sq.ft (2024)
• Sri Narasimha Nagar: Rs 770 per sq.ft (2024)
• Sri Chethan Avenue: Rs 800 per sq.ft (2024)
• Shaloom Avenue: Rs 770 per sq.ft (2024)
• Mid Town Avenue: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in The Ark Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, the total cost for stamp duty and registration would be Rs 69,300. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers The Ark Avenue?

The Ark Avenue falls under the jurisdiction of the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Agraharam Male. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the state receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of The Ark Avenue?

The current guideline value of The Ark Avenue is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of The Ark Avenue?

The Ark Avenue is classified as Residential Class I Type - I, which indicates its use for residential purposes.

Where can I find the Sub Registrar Office for The Ark Avenue?

The Sub Registrar Office covering The Ark Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the stamp duty calculated for properties in The Ark Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 53,900.