Guideline Value for ARUNACHALAPURAM STREET

Arunachalapuram Street guideline value

The current guideline value of Arunachalapuram Street is Rs 5,700 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Arunachalapuram Street has changed

Over the years, the guideline value of Arunachalapuram Street has seen significant changes. The earliest recorded revision was in 2003, with a guideline value of Rs 700 per sq.ft. This figure increased to Rs 1,150 per sq.ft in 2007, marking a 64% rise. The value then jumped dramatically to Rs 5,200 per sq.ft in 2012, reflecting a 352% increase. However, it decreased to Rs 3,484 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 5,200 per sq.ft in 2023, and most recently, it has increased to Rs 5,700 per sq.ft in 2024, which is a 10% rise.

It is important to note that there is no recorded guideline value for Arunachalapuram Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 714%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, which means that Arunachalapuram Street's 2024 figure is below this median.

• Ashoka Nagar: Rs 5,000 per sq.ft (2024)
• Ashoka Nagar Main Road: Rs 5,000 per sq.ft (2024)
• Ashoka Nagar West Street: Rs 6,000 per sq.ft (2024)
• Arignar Anna Street: Rs 5,300 per sq.ft (2024)
• Anna Street: Rs 5,700 per sq.ft (2024)
• Avvai Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalapuram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,700 per sq.ft, the total guideline value would be Rs 57,00,000. The stamp duty at 7% would amount to Rs 3,99,000, while the registration fee at 2% would be Rs 1,14,000, leading to a total of Rs 5,13,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arunachalapuram Street?

The Sub Registrar Office that covers Arunachalapuram Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Arumbakkam. It serves as the benchmark for calculating the stamp duty and registration fees that need to be paid during the registration process. The higher of the guideline value or the sale price is used to determine these charges.

Understanding the guideline value helps buyers and sellers to be aware of the financial implications involved in property transactions. It ensures that all parties are informed about the costs associated with the registration of property in the area.

Frequently asked questions

What is the current guideline value of Arunachalapuram Street?

The current guideline value of Arunachalapuram Street is Rs 5,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2003 to Rs 5,700 per sq.ft in 2024, reflecting an overall increase of 714% over this period.

What is the land classification for Arunachalapuram Street?

The land classification for Arunachalapuram Street is Residential Class I Type - I.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for property in Arunachalapuram Street?

Stamp duty is calculated at 7% of the higher of the guideline value or the sale price. For example, for a property valued at Rs 57,00,000, the stamp duty would be Rs 3,99,000.