Guideline Value for ARUNACHALAM NAGAR 3RD STREET

Arunachalam Nagar 3rd Street guideline value

The current guideline value of Arunachalam Nagar 3rd 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 3rd Street has changed

The guideline value for Arunachalam Nagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,750 per sq.ft, which was then reduced to Rs 1,172 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,750 per sq.ft in the 2023 revision, and further rose to Rs 1,930 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 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. The median value for these streets is Rs 1,930 per sq.ft, which is equal to the guideline value of Arunachalam Nagar 3rd Street.

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

For a property measuring 1,000 sq.ft at the current guideline value of Rs 1,930 per sq.ft, the total 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 or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arunachalam Nagar 3rd Street?

The Sub Registrar Office that covers Arunachalam Nagar 3rd 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 plays a crucial role in the registration process of property transactions in Karambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Arunachalam Nagar 3rd Street?

The current guideline value of Arunachalam Nagar 3rd 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 2012 to Rs 1,172 per sq.ft in 2017, then to Rs 1,750 per sq.ft in 2023, and finally to Rs 1,930 per sq.ft in 2024.

What is the land classification for Arunachalam Nagar 3rd Street?

The land classification for Arunachalam Nagar 3rd Street is Residential Class III Type - I.

What is the registration office for this street?

The registration office for Arunachalam Nagar 3rd 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 property valued at Rs 19,30,000 would incur a stamp duty of Rs 1,35,100 at 7%.