Guideline Value for ARUNTHATHI COLONY

Arunthathi Colony guideline value

The current guideline value of Arunthathi Colony is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Arunthathi Colony has changed

The guideline value for Arunthathi Colony has undergone several revisions over the years. In 2007, the value was set at Rs 900 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a remarkable rise of 233%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. Following this, the value saw a substantial increase to Rs 3,000 per sq.ft in 2023, which was a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

It is important to note that the register does not contain figures for Arunthathi Colony for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Arunthathi Colony is below this median.

• Arundale Street: Rs 8,800 per sq.ft (2024)
• Arunagiri Street: Rs 7,100 per sq.ft (2024)
• Ashoka Road: Rs 7,100 per sq.ft (2024)
• Arunachalam Street: Rs 3,300 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 Arunthathi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees amount to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arunthathi Colony?

The Sub Registrar Office that covers Arunthathi Colony 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 details.

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

The guideline value is a crucial factor when registering property transactions in Mylapore. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased. During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the government receives the appropriate taxes based on the property's worth. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Arunthathi Colony?

The current guideline value of Arunthathi Colony is Rs 3,300 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 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 267% over this period.

What are the stamp duty and registration fees for properties in Arunthathi Colony?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Arunthathi Colony?

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

What is the land classification of Arunthathi Colony?

Arunthathi Colony is classified as Residential Class V Type - III according to the local regulations.