Guideline Value for Arcot Pattai 2nd Street

Arcot Pattai 2nd Street guideline value

The current guideline value of Arcot Pattai 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Arcot Pattai 2nd Street has changed

The guideline value for Arcot Pattai 2nd Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, this value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Nandhambakkam

Nandhambakkam has a total of 76 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, indicating that the 2024 figure for Arcot Pattai 2nd Street is below this median.

• Arcot pattai 1st Street: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 3,300 per sq.ft (2024)
• Ambethkar Street: Rs 2,200 per sq.ft (2024)
• Burma Colony: Rs 2,200 per sq.ft (2024)
• Deffence Officers Colony: Rs 6,600 per sq.ft (2024)
• Deffence Officers Colony Main Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Arcot Pattai 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 Arcot Pattai 2nd Street?

The Sub Registrar Office that covers Arcot Pattai 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an important factor during property registration in Nandhambakkam. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures transparency and standardization in the registration process. It helps in assessing the fair value of the property based on its location and classification.

Frequently asked questions

What is the current guideline value of Arcot Pattai 2nd Street?

The current guideline value of Arcot Pattai 2nd Street 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 from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the other streets in Nandhambakkam with similar guideline values?

Other streets in Nandhambakkam include Arcot Pattai 1st Street and Bajanai Koil Street, both at Rs 3,300 per sq.ft in 2024, among others with varying values.

What fees are associated with buying property in Arcot Pattai 2nd Street?

When buying property, you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Arcot Pattai 2nd Street?

The Sub Registrar Office for Arcot Pattai 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.