Guideline Value for ARANGAPPAN STREET

Arangappan Street guideline value

The current guideline value of Arangappan Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Arangappan Street has changed

The guideline value for Arangappan Street has undergone several revisions over the years. In 2002, the guideline value was Rs 526 per sq.ft. This increased to Rs 584 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a 71% increase. Following this, the value surged to Rs 7,000 per sq.ft in 2012, which was a substantial increase of 600%. However, in 2017, the value decreased to Rs 4,690 per sq.ft, a drop of 33%. The value then climbed to Rs 7,000 per sq.ft in 2023, before reaching the current value of Rs 7,700 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1364%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Mambalam

In Mambalam village, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 6,600 per sq.ft, which means Arangappan Street's 2024 figure is above that median.

• Araganthan Sub Way: Rs 7,700 per sq.ft (2024)
• Appavoo Nagar Subbu Pillai Thottam: Rs 4,400 per sq.ft (2024)
• Appavoo Nagar Anna Street 1st Cross Street Iith Cross St: Rs 4,400 per sq.ft (2024)
• Appavoo Nagar 1 St Lane: Rs 4,400 per sq.ft (2024)
• ANNA SALALI(DOOR No 380 to 389): Rs 22,000 per sq.ft (2024)
• ARYA GOWDA ROAD(D.No 11 to 25 NORTH TO SOUTH): Rs 15,400 per sq.ft (2024)

Stamp duty and registration fee for property in Arangappan Street

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arangappan Street?

The Sub Registrar Office that covers Arangappan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mambalam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure they are compliant with the regulations set by the Registration Department.

When a property is registered, the guideline value is considered the minimum value for calculating the applicable duties and fees. This ensures that the transaction is documented accurately and transparently, reflecting the value of the property as per the government’s records.

Frequently asked questions

What is the current guideline value of Arangappan Street?

The current guideline value of Arangappan Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 526 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 1364% over this period.

What is the land classification for Arangappan Street?

Arangappan Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Arangappan Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles the registration for Arangappan Street?

The Thiyagaraya nagar Sub Registrar Office handles the registration for Arangappan Street, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.