Guideline Value for ARUNACHALAM 3RD LANE

Arunachalam 3rd Lane guideline value

The current guideline value for Arunachalam 3rd 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 3rd Lane has changed

The guideline value for Arunachalam 3rd Lane has seen several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 150%. However, from 2012 to 2017, the value dropped to Rs 3,015 per sq.ft, a decrease of 33%. The value then increased substantially to Rs 4,500 per sq.ft in 2023, a rise of 49%, and currently stands at Rs 4,900 per sq.ft from the 2024 revision, reflecting a growth of 9% from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 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. The median guideline value is Rs 5,500 per sq.ft, making the current value of Arunachalam 3rd Lane below this median.

• Arunachalam 2nd Lane: Rs 4,900 per sq.ft (2024)
• Arunachalam 1st 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 3rd 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 amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to 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 use the stamp duty and registration fee calculator for precise calculations based on your property.

Which Sub Registrar Office covers Arunachalam 3rd Lane?

The Sub Registrar Office covering Arunachalam 3rd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold. The fees are calculated based on the higher value between the guideline value and the actual sale price.

Understanding the guideline value is essential for buyers and sellers, as it impacts the overall cost of property transactions. It is advisable to check the latest figures before proceeding with any property dealings in the area.

Frequently asked questions

What is the current guideline value of Arunachalam 3rd Lane?

The current guideline value of Arunachalam 3rd 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, showing an overall increase of 172% over the years.

What is the registration fee for a property in Arunachalam 3rd Lane?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 49,00,000, the registration fee would be Rs 98,000.

Which office handles property registrations in Purasaivakkam?

The Purasaivakkam Sub Registrar Office handles property registrations for Arunachalam 3rd Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, with Arunachalam 3rd Lane's current value being below this median.