Guideline Value for Arasamara Street

Arasamara Street guideline value

The current guideline value of Arasamara Street, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Arasamara Street has changed

The guideline value for Arasamara Street has seen several revisions over the years. The earliest recorded figure was Rs 303 per sq.ft in 2003, which increased to Rs 600 per sq.ft in 2007. Following this, the value rose significantly to Rs 2,500 per sq.ft in 2012, then decreased to Rs 1,675 per sq.ft in 2017. The most recent revisions saw it increase to Rs 2,500 per sq.ft in 2023, and further to Rs 2,750 per sq.ft in 2024. It is important to note that the register has no figure for this street in 2002.

Between the revisions, notable changes include a 98% increase from 2003 to 2007, a 317% rise from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. The most recent change from 2023 to 2024 is a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 808%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Arasamara Street's 2024 figure below that median.

• Arcot Jambulingam Street: Rs 3,850 per sq.ft (2024)
• Anumar Koil Street: Rs 3,850 per sq.ft (2024)
• Aringar Anna Street: Rs 3,520 per sq.ft (2024)
• Anthoniyar Koil Street (Gst Road): Rs 3,850 per sq.ft (2024)
• Arulmurugan Nagar: Rs 3,850 per sq.ft (2024)
• Arulmurugan Nagar Exten.: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Arasamara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arasamara Street?

The Sub Registrar Office that covers Arasamara Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees when buying or selling property. The guideline value is assessed by the Registration Department and is updated periodically based on various factors.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Arasamara Street?

The current guideline value of Arasamara Street is Rs 2,750 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 303 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 808% over this period.

What is the land classification of Arasamara Street?

Arasamara Street is classified under Residential Class II Type - I land classification.

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

The Sub Registrar Office for Arasamara Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Arasamara Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.