Guideline Value for ARIATTHAMMAN KOIL STREET

Ariatthamman Koil Street guideline value

The current guideline value of Ariatthamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ariatthamman Koil Street has changed

In the 2012 revision, the guideline value was recorded at Rs 3,000 per sq.ft. This figure saw a decrease of 33% by the 2017 revision, where it dropped to Rs 2,010 per sq.ft. The value then increased significantly by 49% in the 2023 revision, reaching Rs 3,000 per sq.ft. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the 2024 guideline value of Ariatthamman Koil Street.

• Arihant Avenue: Rs 5,500 per sq.ft (2024)
• Arihant Kudiyiruppu Salai: Rs 5,500 per sq.ft (2024)
• Arulmigu Pamban Baba Nagar: Rs 2,200 per sq.ft (2024)
• Arumugam Avenue: Rs 2,200 per sq.ft (2024)
• Anna Street: Rs 3,900 per sq.ft (2024)
• Annai Parvathi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ariatthamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the 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 Ariatthamman Koil Street?

The Sub Registrar Office that covers Ariatthamman Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will require adherence to the guideline value.

During the registration process, stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in Okkiyamthuraipakkam.

Frequently asked questions

What is the current guideline value of Ariatthamman Koil Street?

The current guideline value of Ariatthamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs can amount to Rs 2,97,000.

Which office handles property registrations for Ariatthamman Koil Street?

The Neelankarai Sub Registrar Office handles property registrations for Ariatthamman Koil Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Ariatthamman Koil Street?

Ariatthamman Koil Street is classified as Residential Class II Type - I, indicating its suitability for residential development.