Guideline Value for ARCOT ROAD

Arcot Road guideline value

The current guideline value of Arcot Road is Rs 14,300 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - I.

How the guideline value of Arcot Road has changed

The guideline value for Arcot Road has seen several revisions over the years. The 2012 revision set the value at Rs 13,000 per sq.ft. In the 2017 revision, this figure decreased to Rs 8,710 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 13,000 per sq.ft, representing a rise of 49%. The most recent revision in 2024 raised the guideline value to Rs 14,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, making the guideline value of Arcot Road above this median.

• Arcot Street: Rs 14,300 per sq.ft (2024)
• Arulambal Street: Rs 13,200 per sq.ft (2024)
• Anna Street: Rs 8,300 per sq.ft (2024)
• Annai Sathya Bazaar Street: Rs 11,000 per sq.ft (2024)
• Bagirathiammal Street: Rs 14,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Arcot Road

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000. Together, the total cost for stamp duty and registration fees would be Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Arcot Road?

The Sub Registrar Office that covers Arcot Road 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 Tnagar

The guideline value plays a crucial role in property transactions in Tnagar. It is used to determine the stamp duty and registration fees that need to be paid during the registration of property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value serves as a benchmark for the minimum value considered for taxation purposes. This means that if the sale price is lower than the guideline value, the buyer will still be liable to pay stamp duty based on the guideline value.

Frequently asked questions

What is the current guideline value of Arcot Road?

The current guideline value of Arcot Road is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 13,000 per sq.ft in 2012 to Rs 8,710 per sq.ft in 2017, then increased to Rs 13,000 per sq.ft in 2023, and finally to Rs 14,300 per sq.ft in 2024.

What is the land classification of Arcot Road?

Arcot Road is classified as Mixed Special Type - I, which indicates its mixed-use potential in the area.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for properties on Arcot Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000 at 7%.