Guideline Value for ARUNACHALAM NAGAR 2ND STREET

Arunachalam Nagar 2nd Street guideline value

The current guideline value of Arunachalam Nagar 2nd Street is Rs 1,925 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Arunachalam Nagar 2nd Street has changed

The guideline value for Arunachalam Nagar 2nd Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,750 per sq.ft. This value remained unchanged until the next revision in 2017, where it decreased to Rs 1,172 per sq.ft, marking a drop of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,750 per sq.ft, and then to Rs 1,925 per sq.ft in 2024, reflecting an increase of 49% from the previous revision and a 10% rise from 2023.

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 Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, placing Arunachalam Nagar 2nd Street's current value above this median.

• Arunachalam Nagar 1 To 5 Street: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar 1st Street: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar 3rd Street: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar 4th Street: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar: Rs 1,925 per sq.ft (2024)
• Arunachalam Nagar 5th Street: Rs 1,925 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 1,925 per sq.ft, the total guideline value would be Rs 19,25,000. The stamp duty at 7% would be Rs 1,34,750, and the registration fee at 2% would be Rs 38,500, bringing the total to Rs 1,73,250. It is important to note that 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 more details.

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 further assistance.

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

The guideline value is a crucial factor when buying or selling property in Vanagaram. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the necessary fees.

When registering a property, the guideline value ensures that the transaction is recorded at a fair price set by the government. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected.

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 1,925 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 2012 to Rs 1,172 per sq.ft in 2017, then increased to Rs 1,750 per sq.ft in 2023, and finally to Rs 1,925 per sq.ft in 2024.

What is the median guideline value in Vanagaram?

The median guideline value for streets in Vanagaram is Rs 1,660 per sq.ft, and Arunachalam Nagar 2nd Street's current value is above this median.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 19,25,000, the stamp duty would be Rs 1,34,750, and the registration fee would be Rs 38,500, totaling Rs 1,73,250.

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

The Sub Registrar Office for Arunachalam Nagar 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.