Guideline Value for Arcot Road 3rd Street

Arcot Road 3rd Street guideline value

The current guideline value of Arcot Road 3rd Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Commercial Special Type - I.

How the guideline value of Arcot Road 3rd Street has changed

Looking back at the revisions, the guideline value for Arcot Road 3rd Street has seen significant changes over the years. The 2002 revision recorded a value of Rs 328 per sq.ft, which increased to Rs 364 per sq.ft by 2003, marking a 11% rise. The value then rose to Rs 750 per sq.ft in 2007, reflecting a substantial increase of 106%. Following this, the 2012 revision set the value at Rs 9,000 per sq.ft, which was a remarkable jump of 1,100% from 2007. However, the value decreased to Rs 6,030 per sq.ft in 2017, showing a decline of 33%.

In the subsequent revisions, the guideline value increased to Rs 9,000 per sq.ft in 2023, and then to Rs 9,900 per sq.ft in 2024, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has risen 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 value for these streets is Rs 4,400 per sq.ft, positioning Arcot Road 3rd Street's current value above this median.

• Arcot Road 2nd 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 1st Street: 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to 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 fees together Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arcot Road 3rd Street?

The Sub Registrar Office that covers Arcot Road 3rd 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 plays a crucial role in the registration process of property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is assessed to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Arcot Road 3rd Street?

The current guideline value of Arcot Road 3rd 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 changed significantly, 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 is the registration office for Arcot Road 3rd Street?

The registration office for Arcot Road 3rd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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 can I find more information on stamp duty and registration fees?

More information on stamp duty and registration fees can be found using the stamp duty and registration fee calculator.