Guideline Value for ARUNASALAM STREET

Arunasalam Street guideline value

The current guideline value of Arunasalam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and falls under the Residential Class IV Type - I land classification.

How the guideline value of Arunasalam Street has changed

The guideline value for Arunasalam Street has undergone several revisions over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 555%. The changes between the revisions are as follows: from 2002 to 2003, there was a 10% increase; from 2003 to 2007, the increase was 36%; a significant rise of 300% occurred from 2007 to 2012; the value then decreased by 33% from 2012 to 2017; and a 49% increase was noted from 2017 to 2023.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Arunasalam Street's 2024 figure below that median.

• Arunthathipuram: Rs 2,200 per sq.ft (2024)
• Arumugam Pillai Street: Rs 2,700 per sq.ft (2024)
• Arignar Anna Nagar: Rs 2,700 per sq.ft (2024)
• Asiriar Street: Rs 5,400 per sq.ft (2024)
• Asiriyar Colony Maraimalai Adigal Street: Rs 3,200 per sq.ft (2024)
• Asiriyar Velayutham Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Arunasalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arunasalam Street?

The Sub Registrar Office that covers Arunasalam Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is essential for both buyers and sellers. It is advisable to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Arunasalam Street?

The current guideline value of Arunasalam Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 336 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 555% over the years.

What is the registration office for Arunasalam Street?

The registration office for Arunasalam Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the stamp duty and registration fees for properties in Arunasalam Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum value for property registration, affecting the stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to ensure a smooth registration process.