Guideline Value for ARIVALAYAM STREET

Arivalayam Street guideline value

The current guideline value of Arivalayam Street in Madurabakkam village is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class I Type - II.

How the guideline value of Arivalayam Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained the same in the 2012 and 2017 revisions, but in 2017, it dropped to Rs 1,005 per sq.ft. The 2023 revision saw a significant increase to Rs 1,500 per sq.ft, followed by another increase to Rs 1,600 per sq.ft in 2024, marking a 7% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, when comparing the 2012 figure to the 2024 figure, there has been a 7% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madurabakkam

In Madurabakkam, there are 23 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft, with a median of Rs 1,600 per sq.ft. The guideline value of Arivalayam Street aligns with this median.

• Amogha: Rs 2,200 per sq.ft (2024)
• Devi Kamatchi Nagar: Rs 1,300 per sq.ft (2024)
• Dharani Nagar: Rs 1,600 per sq.ft (2024)
• Dr.RAGINI CITY: Rs 1,600 per sq.ft (2024)
• Green Castle Avenue: Rs 1,600 per sq.ft (2024)
• Kamatchi Nagr: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arivalayam Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arivalayam Street?

The Sub Registrar Office that covers Arivalayam Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madurabakkam

The guideline value plays a crucial role during property registration in Madurabakkam. It is used to determine the stamp duty and registration fees, which are mandatory when buying or selling property. The higher of the guideline value or the sale price is taken into account for calculating these fees.

When a property is registered, the guideline value ensures that the government receives the appropriate revenue from property transactions. Buyers should be aware of the guideline value to understand the financial implications of their property dealings in Madurabakkam.

Frequently asked questions

What is the current guideline value of Arivalayam Street?

The current guideline value of Arivalayam Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, with a notable increase of 49% from 2017 to 2023.

What are the other streets with guideline values in Madurabakkam?

There are several other streets in Madurabakkam with varying guideline values. For instance, Amogha is valued at Rs 2,200 per sq.ft, while Devi Kamatchi Nagar is at Rs 1,300 per sq.ft.

What is the stamp duty rate for properties in Arivalayam Street?

The stamp duty rate for properties in Arivalayam Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.