Guideline Value for ARUNACHALAM NAGAR 2ND STREET

Arunachalam Nagar 2nd Street guideline value

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

The guideline value for Arunachalam Nagar 2nd Street has undergone 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, which represents a 10% rise. Prior to that, the value was Rs 1,172 per sq.ft in 2017, marking a significant increase of 49% from the 2017 figure to the 2023 figure. The 2012 revision also had a value of Rs 1,750 per sq.ft, which was a decrease of 33% from the 2017 value.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,930 per sq.ft, which is the same as the guideline value for Arunachalam Nagar 2nd Street.

• Arunachalam Nagar 3rd Cross Street: Rs 1,930 per sq.ft (2024)
• Arunachalam Nagar 1st Street: Rs 1,930 per sq.ft (2024)
• Arunachalam Nagar 3rd Street: Rs 1,930 per sq.ft (2024)
• Arunachalam Nagar 7th Street: Rs 1,930 per sq.ft (2024)
• Arunachalam Nagar Bharathi Salai: Rs 1,930 per sq.ft (2024)
• Arunachalam Garden Main Road: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Nagar 2nd 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, 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 duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Arunachalam Nagar 2nd Street?

The Sub Registrar Office that covers Arunachalam Nagar 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 during the registration of property transactions in Karambakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware that the guideline value will influence the overall cost of registration.

When purchasing property, it is essential to consider the guideline value as it ensures compliance with local regulations. The registration process will require that the property be valued at least at the guideline value, ensuring that all parties are aware of the financial implications involved in the transaction.

Frequently asked questions

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

The current guideline value of Arunachalam Nagar 2nd 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 and Rs 1,750 per sq.ft in 2012, showing a significant increase over the years.

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

The land classification for Arunachalam Nagar 2nd Street is Residential Class III Type - I. This classification indicates the type of development permitted in the area.

What is the registration office for properties in Arunachalam Nagar 2nd Street?

The registration office for properties in Arunachalam Nagar 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 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 example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,35,100 at 7%.