Guideline Value for Arcot Road 1st Street

Arcot Road 1st Street guideline value

The current guideline value of Arcot Road 1st Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Arcot Road 1st Street has changed

In the 2002 revision, the guideline value was Rs 328 per sq.ft. This increased to Rs 364 per sq.ft in 2003, marking an increase of 11%. The value saw a significant rise to Rs 750 per sq.ft in 2007, which was an increase of 106%. Following this, in 2012, the guideline value was Rs 9,000 per sq.ft, reflecting a substantial increase of 1,100% from the previous figure.

From 2012 to 2017, the value decreased to Rs 6,030 per sq.ft, which was a decline of 33%. However, the guideline value rebounded to Rs 9,000 per sq.ft in 2023, before reaching the current figure of Rs 9,900 per sq.ft in 2024, marking a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 2,918%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Arcot Road 1st Street above this median.

• Arcot Road 2nd Street: Rs 9,900 per sq.ft (2024)
• Arcot Road 3rd Street: Rs 9,900 per sq.ft (2024)
• Arcot Road (Door No's134 and 134A) New Door No 140: Rs 13,200 per sq.ft (2024)
• Arcot Road Lane: Rs 9,900 per sq.ft (2024)
• Arcot Road (Others): Rs 13,200 per sq.ft (2024)
• Arcot Road South Side Vanniar Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Arcot Road 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, making the total Rs 8,91,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arcot Road 1st Street?

The Sub Registrar Office covering Arcot Road 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Virugambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps establish a baseline for negotiations and ensures transparency in transactions. It is essential for both buyers and sellers to be aware of the current guideline value to make informed decisions.

Frequently asked questions

What is the current guideline value of Arcot Road 1st Street?

The current guideline value of Arcot Road 1st Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 328 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, which is an overall increase of 2,918%.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Where is the Sub Registrar Office for Arcot Road 1st Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How does the guideline value affect property transactions?

The guideline value serves as the minimum registration value for properties, influencing the stamp duty and registration fees. It is essential for buyers and sellers to understand this value when engaging in property transactions.