Guideline Value for Arasamaram Street

Arasamaram Street guideline value

The current guideline value of Arasamaram Street in Issa Pallavaram village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Arasamaram Street has changed

The guideline value for Arasamaram Street has seen several revisions over the years. In 2003, the guideline value was Rs 873 per sq.ft, which increased to Rs 900 per sq.ft in 2007, marking a rise of 3%. The value then jumped significantly to Rs 3,500 per sq.ft in 2012, reflecting an increase of 289%. However, it decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 3,500 per sq.ft in 2023 and further increased to the current Rs 3,850 per sq.ft in 2024, a rise of 10%.

The register has no figure for this street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 341%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, and Arasamaram Street's 2024 figure is above this median.

• Annaswamy Street: Rs 2,200 per sq.ft (2024)
• Arundathipuram: Rs 4,400 per sq.ft (2024)
• Arundathipuram 1st Street: Rs 4,400 per sq.ft (2024)
• Arundathipuram 2nd Street: Rs 4,400 per sq.ft (2024)
• Arunthathipuram 3rd St: Rs 4,400 per sq.ft (2024)
• Asan Basha Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Arasamaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 more details.

Which Sub Registrar Office covers Arasamaram Street?

The Sub Registrar Office that covers Arasamaram 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 Issa Pallavaram

The guideline value is a crucial factor when registering property transactions in Issa Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value is used to calculate the taxes, ensuring that both the buyer and seller are aware of the financial implications of the transaction. This process helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Arasamaram Street?

The current guideline value of Arasamaram Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 873 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 341% over the years.

What is the land classification for Arasamaram Street?

Arasamaram Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for Arasamaram Street?

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

What factors determine the stamp duty and registration fees?

The stamp duty and registration fees are determined based on the guideline value of the property or the sale price, whichever is higher. This ensures that the appropriate taxes are levied during the registration process.