Guideline Value for ARUNACHALAM GARDEN 2ND STREET

Arunachalam Garden 2nd Street guideline value

The current guideline value of Arunachalam Garden 2nd 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 2nd Street has changed

The guideline value for Arunachalam Garden 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,750 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,172 per sq.ft. This was a decrease of 33%. The value then increased significantly to Rs 1,750 per sq.ft in 2023, followed by a rise to Rs 1,930 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, leading to the current guideline value of Rs 1,930 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

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, with the median value being Rs 1,930 per sq.ft. Arunachalam Garden 2nd Street's 2024 figure aligns with this median.

• Arunachalam Garden 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,930 per sq.ft, the guideline value amounts to Rs 19,30,000. The stamp duty at 7% would be Rs 1,35,100, and the registration fee at 2% would be Rs 38,600, bringing the total to 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arunachalam Garden 2nd Street?

The Sub Registrar Office that covers Arunachalam Garden 2nd 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 details.

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 minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Arunachalam Garden 2nd Street?

The current guideline value of Arunachalam Garden 2nd Street is Rs 1,930 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various revisions, with the most recent increase being from Rs 1,750 per sq.ft in 2023 to Rs 1,930 per sq.ft in 2024, a 10% rise.

What is the land classification for Arunachalam Garden 2nd Street?

The land classification for Arunachalam Garden 2nd Street is Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Arunachalam Garden 2nd 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 the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 19,30,000, the stamp duty at 7% would amount to Rs 1,35,100.