Guideline Value for ARCOT STREET

Arcot Street guideline value

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

How the guideline value of Arcot Street has changed

The guideline value for Arcot Street has seen significant changes over the years. In 2002, the value was Rs 1,834 per sq.ft, which increased to Rs 2,036 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 4,000 per sq.ft in 2007, which was a substantial increase of 96%. By 2012, the value was Rs 13,000 per sq.ft, reflecting a remarkable jump of 225% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 8,710 per sq.ft, a decline of 33%.

Following this, the value increased significantly to Rs 13,000 per sq.ft in 2023, and then to Rs 14,300 per sq.ft in 2024, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 680%. There are no figures available for the revisions of years not mentioned.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that have 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, placing Arcot Street's 2024 figure above that median.

• Arcot Road: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arcot Street?

The Sub Registrar Office that covers Arcot 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Tnagar. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. 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 is considered to establish the official value of the property for taxation purposes. This means that the stamp duty and registration fees will be calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Arcot Street?

The current guideline value of Arcot Street 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 significantly, starting from Rs 1,834 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, reflecting an overall increase of 680%.

What is the land classification for Arcot Street?

Arcot Street is classified as Mixed Special Type - I, indicating its diverse usage potential.

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

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

What are the stamp duty and registration fees for property transactions?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 12,87,000.