Guideline Value for ARIMUTHU STREET

Arimuthu Street guideline value

The current guideline value of Arimuthu Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Arimuthu Street has changed

The guideline value of Arimuthu Street has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value was raised again to Rs 5,000 per sq.ft in 2023, before reaching the current figure of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no registered figures for Arimuthu Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, which is equal to the current guideline value of Arimuthu Street.

• Arasappa Mudali Street: Rs 5,500 per sq.ft (2024)
• Appasamy Street: Rs 5,500 per sq.ft (2024)
• Arunachalam 1st Lane: Rs 4,900 per sq.ft (2024)
• Arunachalam 2nd Lane: Rs 4,900 per sq.ft (2024)
• Arunachalam 3rd Lane: Rs 4,900 per sq.ft (2024)
• Arunachala Pandara Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Arimuthu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty, charged at 7%, would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Arimuthu Street?

The Sub Registrar Office that covers Arimuthu Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted at a fair value.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to avoid any potential legal issues during the transaction.

Frequently asked questions

What is the current guideline value of Arimuthu Street?

The current guideline value of Arimuthu Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification for Arimuthu Street?

Arimuthu Street is classified as Residential Class III Type - I.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Arimuthu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000.