Guideline Value for ARICHANDRAN AVENUE

Arichandran Avenue guideline value

The current guideline value of Arichandran Avenue is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Arichandran Avenue has changed

The guideline value for Arichandran Avenue has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 750 per sq.ft. This value increased significantly to Rs 2,500 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, reflecting a 33% decline. The value rose again to Rs 2,500 per sq.ft in 2023, and most recently, it increased to Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, bringing it to Rs 2,500 per sq.ft. The overall increase from the 2007 revision to the current 2024 revision is 273%, showcasing significant changes in the guideline value over the years.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. Arichandran Avenue's 2024 figure of Rs 2,800 per sq.ft is above this median.

• ARICHANDRAN 2nd CROSS STREET: Rs 2,800 per sq.ft (2024)
• Arichandran Main Road: Rs 2,800 per sq.ft (2024)
• ARICHANDRAN 1st CROSS STREET: Rs 2,800 per sq.ft (2024)
• Arputha Thotta Salai(Arputha Thottam): Rs 2,200 per sq.ft (2024)
• APMS 2nd STREET-CHINNADI KUPPAM: Rs 2,800 per sq.ft (2024)
• Apms 1st Street-Chinnadi Kuppam: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Arichandran Avenue

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty, charged at 7%, would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. 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 detailed calculations.

Which Sub Registrar Office covers Arichandran Avenue?

The Sub Registrar Office that covers Arichandran Avenue 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 Enjambakkam

The guideline value is a crucial factor when registering property transactions in Enjambakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring compliance with local regulations. Buyers should be aware of the guideline value to understand the costs associated with property registration.

Frequently asked questions

What is the current guideline value of Arichandran Avenue?

The current guideline value of Arichandran Avenue is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 273% over the years.

What is the land classification of Arichandran Avenue?

Arichandran Avenue is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Arichandran Avenue?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Arichandran Avenue?

The Neelankarai Sub Registrar Office handles registrations for Arichandran Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.