Guideline Value for Arani Gangan Street

Arani Gangan Street guideline value

The current guideline value of Arani Gangan Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Commercial Class I Type - I.

How the guideline value of Arani Gangan Street has changed

The guideline value for Arani Gangan Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 800 per sq.ft. It then increased significantly to Rs 3,500 per sq.ft in 2012, followed by a decrease to Rs 2,345 per sq.ft in 2017. The 2023 revision marked a rise to Rs 3,500 per sq.ft, and the most recent revision in 2024 brought it to Rs 3,800 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes are as follows: from 2007 to 2012, there was a substantial increase of 338%. However, from 2012 to 2017, the value decreased by 33%. The value then surged by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. Overall, the guideline value has increased by 375% from 2007 to 2024.

Guideline values in Tondaiarpet

In Tondaiarpet, there are a total of 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this village is Rs 1,600 per sq.ft, making the 2024 figure for Arani Gangan Street notably above that median.

• Arani Ranghan Lane: Rs 3,800 per sq.ft (2024)
• Appasamy Street: Rs 2,700 per sq.ft (2024)
• Arumugam Lane: Rs 1,300 per sq.ft (2024)
• Arunachala Eswarar Koil Street (North Mada Veethy): Rs 1,600 per sq.ft (2024)
• Arunachala Eswarar Koil Street (South Mada Veethy): Rs 1,600 per sq.ft (2024)
• Arunachala Eswarar Koil Street (West Mada Veethy): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Arani Gangan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arani Gangan Street?

The Sub Registrar Office that covers Arani Gangan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that all transactions are conducted at a value that reflects the official rates set by the government.

Frequently asked questions

What is the current guideline value of Arani Gangan Street?

The current guideline value of Arani Gangan Street is Rs 3,800 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 800 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 375% over the years.

What is the land classification of Arani Gangan Street?

Arani Gangan Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Arani Gangan Street?

The Sub Registrar Office for Arani Gangan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Arani Gangan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at 7%.