Guideline Value for ARUNACHALAM 1ST LANE

Arunachalam 1st Lane guideline value

The current guideline value of Arunachalam 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This lane is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Arunachalam 1st Lane has changed

The guideline value for Arunachalam 1st Lane has undergone several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017. The value then rose to Rs 4,500 per sq.ft in 2023, before reaching the current value of Rs 4,900 per sq.ft in 2024.

Between the revisions, the changes are notable. From 2007 to 2012, the value increased by 150%, but then decreased by 33% from 2012 to 2017. The value saw a significant increase of 49% from 2017 to 2023, followed by a 9% rise from 2023 to 2024. Overall, the guideline value has increased by 172% from 2007 to 2024.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Arunachalam 1st Lane's current value below this median.

• 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)
• Arimuthu Street: Rs 5,500 per sq.ft (2024)
• Arasappa Mudali Street: Rs 5,500 per sq.ft (2024)
• Ashtabujam 1st Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Arunachalam 1st Lane?

The Sub Registrar Office that covers Arunachalam 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Purasaivakkam. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value serves as a baseline for the transaction. This means that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate fees are collected by the government.

Frequently asked questions

What is the current guideline value of Arunachalam 1st Lane?

The current guideline value of Arunachalam 1st Lane is Rs 4,900 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 4,900 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What are the other streets in Purasaivakkam with similar guideline values?

Other streets in Purasaivakkam with a guideline value of Rs 4,900 per sq.ft include Arunachalam 2nd Lane and Arunachalam 3rd Lane. Several other streets have higher values, such as Arunachala Pandara Street, Arimuthu Street, Arasappa Mudali Street, and Ashtabujam 1st Lane, all at Rs 5,500 per sq.ft.

Where can I find the Sub Registrar Office for Arunachalam 1st Lane?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. This office handles registrations for properties in Arunachalam 1st Lane.

How is the stamp duty calculated for properties in Arunachalam 1st Lane?

The stamp duty for properties in Arunachalam 1st Lane is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 3,43,000.