Guideline Value for Archin Lake Street, Chennai 82

Archin Lake Street, Chennai 82 guideline value

The current guideline value of Archin Lake Street, Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Archin Lake Street, Chennai 82 has changed

The guideline value for Archin Lake Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is an increase from Rs 4,000 per sq.ft in 2023, reflecting a change of +10%. Prior to that, in 2017, the value was Rs 2,680 per sq.ft, showing a significant increase of +49% from 2017 to 2023. The 2012 revision also recorded a value of Rs 4,000 per sq.ft, which was a decrease of -33% from the 2017 figure. The 2007 revision had set the value at Rs 1,200 per sq.ft, indicating a remarkable increase of +233% to the 2012 value.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Archin Lake Street. Overall, from 2007 to 2024, the guideline value has increased by +267%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO that carry a guideline value for 2024, ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Archin Lake Street's 2024 figure below that median.

• Arulappa Street: Rs 4,400 per sq.ft (2024)
• Arumuga naicker Street: Rs 4,400 per sq.ft (2024)
• Anna Street (Vellala Street 2nd Lane): Rs 4,400 per sq.ft (2024)
• Anna Street (GKM Colony) Chennai 82: Rs 4,400 per sq.ft (2024)
• Annai Therasa Street, Chennai 82 (Venkatesa Nagar): Rs 4,400 per sq.ft (2024)
• Avvai Nagar 2nd Street, G.K.M.COLONY: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Archin Lake Street, Chennai 82

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. In total, the fees would come to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Archin Lake Street, Chennai 82?

The Sub Registrar Office that covers Archin Lake Street, Chennai 82 is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ayanavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process. The registration office uses this value to ensure that the taxes are calculated fairly based on the property’s worth.

When you register a property, the guideline value is considered to be the minimum value for taxation purposes. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the actual sale price, ensuring that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Archin Lake Street, Chennai 82?

The current guideline value of Archin Lake Street, Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase of +10% from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024. The overall increase from 2007 to 2024 is +267%.

What is the land classification for Archin Lake Street?

The land classification for Archin Lake Street is Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration of properties on Archin Lake Street?

The AnnaNagar Sub Registrar Office handles the registration of properties on Archin Lake Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.