Guideline Value for ARULAPPAN STREET

Arulappan Street guideline value

The current guideline value of Arulappan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Arulappan Street has changed

The guideline value of Arulappan Street has seen several revisions over the years. In 2002, the guideline value was Rs 789 per sq.ft. This increased to Rs 877 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, which was a 14% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, reflecting a substantial increase of 200%. However, by 2017, the guideline value decreased to Rs 2,010 per sq.ft, representing a decline of 33%. The value saw a notable increase to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 318%. There are no figures available for the revisions in years other than those specified.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Arulappan Street's 2024 figure below that median.

• Arulappa Naicken Street: Rs 7,100 per sq.ft (2024)
• Arulanantha Mudali Street: Rs 4,900 per sq.ft (2024)
• Arumugam Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Street: Rs 3,300 per sq.ft (2024)
• Arunagiri Street: Rs 7,100 per sq.ft (2024)
• Arundale Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Arulappan 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 duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arulappan Street?

The Sub Registrar Office that covers Arulappan Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the charges are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements during property transactions. It also helps in establishing a clear financial framework for the costs associated with property registration.

Frequently asked questions

What is the current guideline value of Arulappan Street?

The current guideline value of Arulappan 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 789 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 318% over the years.

What are the other streets in Mylapore with their guideline values?

Other streets in Mylapore include Arulappa Naicken Street at Rs 7,100 per sq.ft, Arulanantha Mudali Street at Rs 4,900 per sq.ft, and Arumugam Street at Rs 3,300 per sq.ft, among others.

What are the stamp duty and registration fees for properties in Arulappan Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Arulappan Street located?

The Sub Registrar Office for Arulappan Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.