Guideline Value for ARAVAMUTHU STREET

Aravamuthu Street guideline value

The current guideline value of Aravamuthu Street in Koladi village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - III.

How the guideline value of Aravamuthu Street has changed

The guideline value for Aravamuthu Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 250 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a 140% rise. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, a drop of 33%. The value then rose sharply to Rs 600 per sq.ft in 2023, followed by a further increase to Rs 660 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 164%. The revisions demonstrate fluctuations in the guideline value, with the most substantial increase occurring between 2007 and 2012, and a notable rise from 2017 to 2023.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Aravamuthu Street is below this median.

• Arjuna Medu: Rs 880 per sq.ft (2024)
• Arjuna Medu Road: Rs 880 per sq.ft (2024)
• Arul Nagar: Rs 880 per sq.ft (2024)
• Anna Street: Rs 880 per sq.ft (2024)
• Annalakshmi Nagar Main Road: Rs 660 per sq.ft (2024)
• Annalakshmi Nagar Cross Road: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Aravamuthu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, together totaling Rs 59,400. It is important to note that 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 details.

Which Sub Registrar Office covers Aravamuthu Street?

The Sub Registrar Office that covers Aravamuthu Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Koladi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process. This ensures that the government receives the appropriate revenue from property transactions based on the officially recognized value of the property.

When you buy or sell property in Koladi, the guideline value helps in establishing a transparent and standardized process. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration and to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Aravamuthu Street?

The current guideline value of Aravamuthu Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, showing an overall increase of 164% over the years.

What is the classification of Aravamuthu Street?

Aravamuthu Street is classified as Residential Class II Type - III under the Chennai South Joint II SRO.

How is stamp duty calculated for properties on Aravamuthu Street?

Stamp duty for properties on Aravamuthu Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty of Rs 46,200.

Where can I find the Sub Registrar Office for Aravamuthu Street?

The Sub Registrar Office for Aravamuthu Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.