Guideline Value for ARUNDALE 1ST STREET

Arundale 1st Street guideline value

The current guideline value of Arundale 1st Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and is classified as Residential Special Type - II.

How the guideline value of Arundale 1st Street has changed

The guideline value for Arundale 1st Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,397 per sq.ft. This increased to Rs 1,546 per sq.ft in 2003, marking an 11% rise. The value then rose sharply to Rs 2,200 per sq.ft in 2007, reflecting a 42% increase. Following this, the guideline value surged to Rs 10,000 per sq.ft in 2012, a remarkable 355% increase. However, it decreased to Rs 6,700 per sq.ft in 2017, a decline of 33%. The value then increased significantly to Rs 10,000 per sq.ft in 2023, before reaching the current value of Rs 11,000 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 687%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Thiruvanmiyur

Thiruvanmiyur village has a total of 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft as of 2024. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Arundale 1st Street's current value above this median.

• Arundale 2nd Street: Rs 11,000 per sq.ft (2024)
• Arundale 3rd Street: Rs 11,000 per sq.ft (2024)
• Astalakshmi Avenue: Rs 8,250 per sq.ft (2024)
• Astalakshmi Garden: Rs 8,250 per sq.ft (2024)
• Astalakshmi Kovil Street: Rs 7,150 per sq.ft (2024)
• Appar Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Arundale 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Arundale 1st Street?

The Sub Registrar Office covering Arundale 1st 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 details.

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

The guideline value is an essential factor in property transactions in Thiruvanmiyur. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must consider the guideline value as it directly affects the costs involved in property transactions.

When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This value is crucial for both parties to understand, as it impacts the overall financial aspects of the transaction.

Frequently asked questions

What is the current guideline value of Arundale 1st Street?

The current guideline value of Arundale 1st Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,397 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 687%.

What is the land classification for Arundale 1st Street?

Arundale 1st Street is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Arundale 1st Street?

The Sub Registrar Office for Arundale 1st 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 properties in Arundale 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 at 7%.