Guideline Value for ARCOT ROAD 2ND LANE

Arcot Road 2nd Lane guideline value

The current guideline value of Arcot Road 2nd Lane in Manapakkam village is Rs 6,600 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - I.

How the guideline value of Arcot Road 2nd Lane has changed

The guideline value for Arcot Road 2nd Lane has undergone several revisions over the years. In 2002, the value was Rs 139 per sq.ft, which increased to Rs 155 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 400 per sq.ft in 2007, and then it jumped dramatically to Rs 6,000 per sq.ft in 2012. However, it decreased to Rs 4,020 per sq.ft in 2017. The value then rose to Rs 6,000 per sq.ft in 2023 before reaching the current figure of Rs 6,600 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2002 to 2024, the overall increase is 4,648%. The most significant rise occurred from 2007 to 2012, with an increase of 1,400%. The value then saw a decrease of 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Arcot Road 2nd Lane's 2024 figure above this median.

• Arcot Main Road / 1st Lane: Rs 6,600 per sq.ft (2024)
• Arijana Mayana Salai: Rs 1,100 per sq.ft (2024)
• Anna Salai (Anna Street): Rs 2,200 per sq.ft (2024)
• Anna Road Cross Street: Rs 2,420 per sq.ft (2024)
• Ashtalakshmi Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Ashtalakshmi Avenue Right Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arcot Road 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arcot Road 2nd Lane?

The Sub Registrar Office that covers Arcot Road 2nd Lane is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Manapakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a baseline for the transaction price. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value, ensuring that the transaction is registered at a fair value.

Frequently asked questions

What is the current guideline value of Arcot Road 2nd Lane?

The current guideline value of Arcot Road 2nd Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 139 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 4,648% over this period.

What is the classification of the land on Arcot Road 2nd Lane?

The land on Arcot Road 2nd Lane is classified as Commercial Class I Type - I, indicating its commercial use.

Where can I find the registration office for this area?

The registration office for Arcot Road 2nd Lane is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Manapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 66,00,000, the stamp duty at 7% would be Rs 4,62,000.