Guideline Value for ARUNACHALAM NAGAR 7TH STREET

Arunachalam Nagar 7th Street guideline value

The current guideline value of Arunachalam Nagar 7th Street is Rs 1,930 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Arunachalam Nagar 7th Street has changed

The guideline value for Arunachalam Nagar 7th Street has undergone 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 increased to Rs 1,172 per sq.ft. However, from 2017 to 2023, the value saw a significant rise to Rs 1,750 per sq.ft, and in the latest 2024 revision, it reached Rs 1,930 per sq.ft.

Notably, between the 2023 and 2024 revisions, the guideline value increased by 10%. The overall change from the 2012 revision to the 2024 revision reflects a 10% increase, despite a decrease of 33% from 2012 to 2017. 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 with a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value is Rs 1,930 per sq.ft, which is equal to the guideline value of Arunachalam Nagar 7th Street.

• Arunachalam Nagar Bharathi Salai: Rs 1,930 per sq.ft (2024)
• Arunachalam Nagar 3rd Street: Rs 1,930 per sq.ft (2024)
• 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 1st Street: Rs 1,930 per sq.ft (2024)
• Arunachala Nagar: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Nagar 7th 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, leading to a total of Rs 1,73,700. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arunachalam Nagar 7th Street?

The Sub Registrar Office that covers Arunachalam Nagar 7th 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 critical factor in determining the stamp duty and registration fees when buying or selling property in Karambakkam. It serves as a benchmark for the valuation of properties, ensuring that the registration process reflects the appropriate financial obligations.

When a property is registered, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are recorded fairly and transparently, contributing to the overall integrity of the property market.

Frequently asked questions

What is the current guideline value of Arunachalam Nagar 7th Street?

The current guideline value of Arunachalam Nagar 7th 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 1,930 per sq.ft in 2024, reflecting an overall increase of 10%. The value increased significantly from Rs 1,172 per sq.ft in 2017 to Rs 1,750 per sq.ft in 2023.

What is the land classification of Arunachalam Nagar 7th Street?

Arunachalam Nagar 7th Street is classified as 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 Nagar 7th 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.

What is the stamp duty for a property in Arunachalam Nagar 7th Street?

The stamp duty for a property in Arunachalam Nagar 7th Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,35,100 based on the current guideline value.