Guideline Value for ARUNACHALAM 2ND LANE

Arunachalam 2nd Lane guideline value

The current guideline value of Arunachalam 2nd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Arunachalam 2nd Lane has changed

Over the years, the guideline value of Arunachalam 2nd Lane has seen several revisions. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,015 per sq.ft in 2017. The value continued to rise to Rs 4,500 per sq.ft in 2023, and most recently, it has been revised to Rs 4,900 per sq.ft in 2024.

The changes between these revisions are noteworthy. From 2007 to 2012, there was a substantial increase of 178%. However, the value dropped by 40% from 2012 to 2017. The value then saw a remarkable increase of 49% from 2017 to 2023, and a further increase of 9% from 2023 to 2024. The overall change from 2007 to 2024 reflects an increase of 172%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value of Arunachalam 2nd Lane is below this median.

• Arunachalam 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value is Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000. Together, the total cost for stamp duty and registration fee would be 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.

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

Which Sub Registrar Office covers Arunachalam 2nd Lane?

The Sub Registrar Office that covers Arunachalam 2nd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the fees are calculated based on the established values set by the government.

When a property is registered, the buyer must pay the stamp duty and registration fee based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is valued fairly according to the prevailing market conditions as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Arunachalam 2nd Lane?

The current guideline value of Arunachalam 2nd 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 various revisions in between, including a peak of Rs 5,000 per sq.ft in 2012 and a drop to Rs 3,015 per sq.ft in 2017.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, with Arunachalam 2nd Lane's value being below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same value.

Where can I find the Sub Registrar Office for Arunachalam 2nd Lane?

The Sub Registrar Office for Arunachalam 2nd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.