Guideline Value for ARCOT ROAD

Arcot Road guideline value

The current guideline value of Arcot Road in Karambakkam village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - I.

How the guideline value of Arcot Road has changed

The guideline value for Arcot Road has seen several revisions over the years. In 2012, the value was Rs 5,000 per sq.ft, which decreased to Rs 3,350 per sq.ft in 2017. Following this, the value increased significantly to Rs 5,000 per sq.ft in 2023, and further rose to Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, 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 Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft, with a median value of Rs 1,930 per sq.ft. The guideline value of Arcot Road is above this median.

• Arunachalam Garden 1st Street: Rs 1,930 per sq.ft (2024)
• Arunachalam Garden 2nd Street: Rs 1,930 per sq.ft (2024)
• Arunachalam Garden Main Road: Rs 1,930 per sq.ft (2024)
• Arunachalam Nagar 1st Street: Rs 1,930 per sq.ft (2024)
• Arunachalam Nagar 2nd Street: Rs 1,930 per sq.ft (2024)
• Arunachalam Nagar 3rd Cross Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Arcot Road

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% is Rs 3,85,000, and the registration fee at 2% is Rs 1,10,000, making the total Rs 4,95,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Arcot Road?

The Sub Registrar Office that covers Arcot Road 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 Karambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Karambakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these charges are calculated fairly based on the established rates.

When a property is registered, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Arcot Road?

The current guideline value of Arcot Road in Karambakkam village is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the median guideline value in Karambakkam?

The median guideline value in Karambakkam is Rs 1,930 per sq.ft, while the guideline value for Arcot Road is above this median.

What are the stamp duty rates applicable for properties in Arcot Road?

The stamp duty rate for properties in Arcot Road is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Arcot Road?

The Chennai South Joint I Sub Registrar Office handles property registrations for Arcot Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.