Guideline Value for ARUNAGIRI STREET

Arunagiri Street guideline value

The current guideline value of Arunagiri Street is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Arunagiri Street has changed

Since the 2002 revision, the guideline value of Arunagiri Street has seen significant changes. In 2002, the value was Rs 397 per sq.ft, which increased to Rs 458 per sq.ft in 2003. The value then rose to Rs 700 per sq.ft in 2007, followed by a substantial jump to Rs 2,800 per sq.ft in 2012. However, it decreased to Rs 1,876 per sq.ft in 2017. The value increased again to Rs 2,800 per sq.ft in 2023, and currently stands at Rs 3,080 per sq.ft as of the 2024 revision.

Specifically, the changes between revisions are as follows: from 2002 to 2003, there was a 15% increase; from 2003 to 2007, it rose by 53%; in 2007 to 2012, it increased by 300%; then it fell by 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and finally, it saw a 10% rise from 2023 to 2024. There are no figures available for any other years in the register for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal village, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. Arunagiri Street's 2024 guideline value is below this median.

• Arumugam Street: Rs 4,620 per sq.ft (2024)
• Arul Prakasam Road: Rs 3,520 per sq.ft (2024)
• Ashok Nagar Inring Road: Rs 8,800 per sq.ft (2024)
• Ashok Pillar Main Road: Rs 8,800 per sq.ft (2024)
• Avaiyar Street: Rs 3,080 per sq.ft (2024)
• Balaji Nagar (120 Feet Road West Side): Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Arunagiri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value would be Rs 30,80,000. The stamp duty at 7% would amount to Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, bringing the total to Rs 2,77,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Arunagiri Street?

The Sub Registrar Office that covers Arunagiri 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 Ekkaduthangal

The guideline value is a crucial factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs for the buyer. This ensures transparency and consistency in the property registration process.

Frequently asked questions

What is the current guideline value of Arunagiri Street?

The current guideline value of Arunagiri Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with a total increase of 676% from Rs 397 per sq.ft in 2002 to Rs 3,080 per sq.ft in 2024.

What is the land classification for Arunagiri Street?

Arunagiri Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Arunagiri Street?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 30,80,000, the stamp duty would be Rs 2,15,600 at a rate of 7%.