Guideline Value for ARUNDALE STREET

Arundale Street guideline value

The current guideline value of Arundale Street is Rs 8,800 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 III Type - III.

How the guideline value of Arundale Street has changed

The guideline value of Arundale Street has undergone several revisions over the years. In 2002, the value was Rs 1,038 per sq.ft, which increased to Rs 1,153 per sq.ft in 2003, reflecting a change of +11%. By 2007, the value surged to Rs 1,540 per sq.ft, marking a significant increase of +34%. The 2012 revision set the value at Rs 8,000 per sq.ft, which was an impressive rise of +419% from the previous figure. The most recent revision in 2024 has established the guideline value at Rs 8,800 per sq.ft, representing a +10% increase from 2012.

It is important to note that the register does not have figures for Arundale Street for the years 2017 and 2023. Overall, from 2002 to 2024, the guideline value has increased by +748%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which aligns with the 2024 figure for Arundale Street.

• Arunthathi Colony: Rs 3,300 per sq.ft (2024)
• Arunagiri Street: Rs 7,100 per sq.ft (2024)
• Arunachalam Street: 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 Arundale Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total fees Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arundale Street?

The Sub Registrar Office that covers Arundale 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 plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures transparency and consistency in the valuation of real estate transactions. It helps in avoiding discrepancies and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Arundale Street?

The current guideline value of Arundale Street is Rs 8,800 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 1,038 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of +748%.

What is the stamp duty on property in Arundale Street?

The stamp duty for property in Arundale Street is 7% of the guideline value or the sale price, whichever is higher.

What are the registration fees for property transactions in Mylapore?

The registration fee for property transactions in Mylapore is 2% of the guideline value or the sale price, whichever is higher.

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

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