Guideline Value for ARUNAGIRI STREET

Arunagiri Street guideline value

The current guideline value of Arunagiri Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Arunagiri Street has changed

The guideline value for Arunagiri Street has undergone several revisions over the years. Starting from Rs 959 per sq.ft in 2002, it increased to Rs 1,066 per sq.ft in 2003, marking an 11% rise. The value then saw a significant jump to Rs 1,540 per sq.ft in 2007, which was a 44% increase. Following this, the 2012 revision set the value at Rs 6,500 per sq.ft, reflecting a substantial 322% increase from the previous figure.

In the latest revision for 2024, the guideline value stands at Rs 7,100 per sq.ft, which is a 9% increase from the 2012 figure. It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 640%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, indicating that Arunagiri Street's 2024 figure is below this median.

• Arundale Street: Rs 8,800 per sq.ft (2024)
• Arunachalam Street: Rs 3,300 per sq.ft (2024)
• Arunthathi Colony: Rs 3,300 per sq.ft (2024)
• Ashoka Road: Rs 7,100 per sq.ft (2024)
• Arumugam Street: Rs 3,300 per sq.ft (2024)
• Arulappan Street: Rs 3,300 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 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total charges to Rs 6,39,000. 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 Arunagiri Street?

The Sub Registrar Office that covers Arunagiri Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is important for buyers to be aware of the guideline value to ensure they are not overpaying, while sellers need to consider it to price their property competitively.

Frequently asked questions

What is the current guideline value of Arunagiri Street?

The current guideline value of Arunagiri Street is Rs 7,100 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 959 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, representing a total increase of 640% over the years.

What is the land classification for Arunagiri Street?

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

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Arunagiri Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000.