Guideline Value for ARUNACHALAM GARDEN 1ST STREET

Arunachalam Garden 1st Street guideline value

The current guideline value of Arunachalam Garden 1st Street is Rs 1,930 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Arunachalam Garden 1st Street has changed

The guideline value for Arunachalam Garden 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,930 per sq.ft, an increase from Rs 1,750 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,172 per sq.ft, which means there was a significant increase of +49% from 2017 to 2023. The 2012 revision also recorded a value of Rs 1,750 per sq.ft, indicating a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Arunachalam Garden 1st Street. The 2012 and 2017 revisions provided the values mentioned above, while the revisions for the earlier years remain unavailable.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value among these streets is Rs 1,930 per sq.ft, which is the same as the guideline value for Arunachalam Garden 1st Street.

• Arunachalam Garden 2nd Street: Rs 1,930 per sq.ft (2024)
• Arunachalam Garden Main Road: Rs 1,930 per sq.ft (2024)
• Arunachalam Nagar 1st Street: Rs 1,930 per sq.ft (2024)
• Arunachalam Nagar 2nd Street: Rs 1,930 per sq.ft (2024)
• Arunachalam Nagar 3rd Cross Street: Rs 1,930 per sq.ft (2024)
• Arunachalam Nagar 3rd Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Garden 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,930 per sq.ft, the total guideline value would be Rs 19,30,000. The stamp duty at 7% would amount to Rs 1,35,100, while the registration fee at 2% would be Rs 38,600. Together, the total charges would be Rs 1,73,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arunachalam Garden 1st Street?

The Sub Registrar Office that covers Arunachalam Garden 1st 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 Karambakkam

The guideline value is a crucial factor when registering property transactions in Karambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the transaction is registered accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Arunachalam Garden 1st Street?

The current guideline value of Arunachalam Garden 1st Street is Rs 1,930 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2023 to Rs 1,930 per sq.ft in 2024, a +10% increase. It was Rs 1,172 per sq.ft in 2017, showing a +49% increase from 2017 to 2023.

What is the land classification for Arunachalam Garden 1st Street?

The land classification for Arunachalam Garden 1st Street is Residential Class III Type - I, indicating its suitability for residential purposes.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Arunachalam Garden 1st 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.

How is stamp duty calculated for properties in Karambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, and there are additional registration fees that apply.