Guideline Value for ARUNACHALAM STREET

Arunachalam Street guideline value

The current guideline value of Arunachalam Street in Karapakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Arunachalam Street has changed

The guideline value for Arunachalam Street has undergone several revisions over the years. The oldest recorded revision is from 2007, where the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 150% rise. However, in 2017, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. By 2023, the guideline value rose again to Rs 1,000 per sq.ft, and the latest revision in 2024 set it at Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

Notably, the register has no figures for Arunachalam Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that have a guideline value for 2024, ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value in this area is Rs 1,700 per sq.ft, indicating that Arunachalam Street's 2024 figure is below this median.

• ARIANGAR ANNA STREET 1st CROSS: Rs 1,700 per sq.ft (2024)
• Ariangar Anna Street: Rs 2,200 per sq.ft (2024)
• Anna Street/Nagar: Rs 2,200 per sq.ft (2024)
• Avvaiyar Street: Rs 2,200 per sq.ft (2024)
• Avvaiyar Street (East): Rs 2,200 per sq.ft (2024)
• Avvaiyar Street (West): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty, charged at 7%, would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000. Together, the total cost for these fees would be Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arunachalam Street?

The Sub Registrar Office that covers Arunachalam Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees. If the sale price exceeds the guideline value, the fees will be based on the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Arunachalam Street?

The current guideline value of Arunachalam Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 175% over this period.

What are the other streets in Karapakkam with their guideline values?

Other streets in Karapakkam include ARIANGAR ANNA STREET 1st CROSS at Rs 1,700 per sq.ft, Ariangar Anna Street at Rs 2,200 per sq.ft, and Avvaiyar Street at Rs 2,200 per sq.ft, among others.

What fees are applicable when buying property on Arunachalam Street?

When purchasing property on Arunachalam Street, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Arunachalam Street?

The Neelankarai Sub Registrar Office handles the registration for Arunachalam Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.