Guideline Value for ARUNACHALA NAGAR 1ST STREET

Arunachala Nagar 1st Street guideline value

The current guideline value of Arunachala Nagar 1st Street is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Arunachala Nagar 1st Street has changed

The guideline value for Arunachala Nagar 1st Street has seen several revisions over the years. In 2007, the value was Rs 1,300 per sq.ft, which increased significantly to Rs 4,900 per sq.ft in 2012, marking a rise of 277%. However, this value decreased to Rs 3,283 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision set the value at Rs 4,900 per sq.ft, and the most recent 2024 revision increased it to Rs 5,300 per sq.ft, an 8% rise.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 308%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Arunachala Nagar 1st Street's 2024 guideline value below this median.

• Arunachala Nagar 2nd Street: Rs 5,300 per sq.ft (2024)
• Arya Gowda Salai: Rs 11,000 per sq.ft (2024)
• Arya Gowda Salai Extention: Rs 11,000 per sq.ft (2024)
• Ashok Avenue: Rs 8,200 per sq.ft (2024)
• Arokiasamy Street: Rs 5,000 per sq.ft (2024)
• Arcot Salai (N.S.K.Salai): Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachala Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, while the registration fee at 2% would be Rs 1,06,000, bringing the total fees to Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arunachala Nagar 1st Street?

The Sub Registrar Office that covers Arunachala Nagar 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Puliyur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees payable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the government collects the appropriate revenue based on the property's assessed value rather than the sale price alone.

Frequently asked questions

What is the current guideline value of Arunachala Nagar 1st Street?

The current guideline value of Arunachala Nagar 1st Street is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2007 to Rs 5,300 per sq.ft in 2024, reflecting an overall increase of 308% over the years.

What is the land classification for Arunachala Nagar 1st Street?

The land classification for Arunachala Nagar 1st Street is Residential Class II Type - I.

Where can I find the registration office for Arunachala Nagar 1st Street?

The registration office for Arunachala Nagar 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Arunachala Nagar 1st 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 53,00,000, the stamp duty would be Rs 3,71,000 at 7%.