Guideline Value for ARUN NAGAR / STREET

Arun Nagar / Street guideline value

The current guideline value of Arun Nagar / Street in Kolathuvancheri village is Rs 990 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Arun Nagar / Street has changed

Over the years, the guideline value of Arun Nagar / Street has seen several revisions. The 2012 revision set the value at Rs 900 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 603 per sq.ft. Following this, the 2023 revision increased the value to Rs 900 per sq.ft, and the most recent 2024 revision raised it further to Rs 990 per sq.ft, marking a 10% increase from the previous year.

Specifically, the changes between the revisions are notable: from 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Arun Nagar / Street at Rs 990 per sq.ft is below this median.

• Ashok Brindavan: Rs 2,200 per sq.ft (2024)
• Arunachalam Avenue / Nagar: Rs 1,870 per sq.ft (2024)
• Avvai Street: Rs 1,320 per sq.ft (2024)
• Ayyappan Koil Street: Rs 1,650 per sq.ft (2024)
• Anna Nagar: Rs 1,870 per sq.ft (2024)
• Annai Abirami Nagar 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Arun Nagar / Street

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. 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 Arun Nagar / Street?

The Sub Registrar Office that covers Arun Nagar / Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathuvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. These costs are based on the guideline value or the sale price, whichever is higher, making it essential for both parties to be aware of the current guideline value.

Frequently asked questions

What is the current guideline value of Arun Nagar / Street?

The current guideline value of Arun Nagar / Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Arun Nagar / Street?

Arun Nagar / Street is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for property in Arun Nagar / Street?

For a property valued at the current guideline value of Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Arun Nagar / Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.