Guideline Value for ARIAN STREET

Arian Street guideline value

The current guideline value of Arian Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Arian Street has changed

The guideline value for Arian Street has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 1,340 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for Arian Street in the revisions from the years 2002, 2003, and 2007.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, making Arian Street's 2024 figure below this median.

• Appavoo Naicken Street: Rs 2,700 per sq.ft (2024)
• Anthoniya Street: Rs 2,200 per sq.ft (2024)
• Arumalai Chavadi: Rs 3,300 per sq.ft (2024)
• Arumugapillai Street: Rs 2,750 per sq.ft (2024)
• Asen Basha Street: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Arian Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. 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 Arian Street?

Arian Street falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Cantonment Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the sale price is adequately reflected for taxation purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate the associated costs.

Frequently asked questions

What is the current guideline value of Arian Street?

The current guideline value of Arian Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for Arian Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Arian Street?

The Pallavaram Sub Registrar Office handles the registration for Arian Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Arian Street?

Arian Street is classified as Residential Class III Type - I, which is relevant for determining its guideline value and usage in property transactions.