Guideline Value for Arcot Road

Arcot Road guideline value

The current guideline value of Arcot Road in Maduravoyal village, under the Virugambakkam SRO, is Rs 6,050 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Arcot Road has changed

Over the years, the guideline value for Arcot Road has seen significant changes. The earliest recorded revision was in 2002, with a guideline value of Rs 611 per sq.ft. This figure increased to Rs 900 per sq.ft in 2003, marking a 47% rise. The value then continued to rise to Rs 1,100 per sq.ft in 2007, which was a 22% increase. Following this, the value surged to Rs 5,500 per sq.ft in 2012, reflecting a substantial 400% increase. However, it dropped to Rs 3,685 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 5,500 per sq.ft in 2023, and most recently, it increased to Rs 6,050 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 890%. There are no figures available for revisions in years not specified in the register.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing Arcot Road's current value above this median.

• Astalakshmi Nagar 10th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 11th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 12th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 13th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 14th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 15th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Arcot Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,050 per sq.ft, the total guideline value would be Rs 60,50,000. The stamp duty at 7% would amount to Rs 4,23,500, while the registration fee at 2% would be Rs 1,21,000. Together, the total cost for these fees would be Rs 5,44,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

To calculate your own fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arcot Road?

The Sub Registrar Office that covers Arcot Road 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 Maduravoyal

The guideline value plays a crucial role in the registration process when buying or selling property in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during property transactions.

When a property is sold, the guideline value is taken into account to assess the applicable fees. It is essential for both parties to understand that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the duties.

Frequently asked questions

What is the current guideline value of Arcot Road?

The current guideline value of Arcot Road is Rs 6,050 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 611 per sq.ft in 2002 to Rs 6,050 per sq.ft in 2024, marking an overall increase of 890%.

What are the stamp duty and registration fees for properties on Arcot Road?

For a property valued at Rs 60,50,000, the stamp duty would be Rs 4,23,500 and the registration fee would be Rs 1,21,000, totaling Rs 5,44,500.

Which office handles registrations for Arcot Road?

The Virugambakkam Sub Registrar Office handles registrations for Arcot Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Maduravoyal?

The median guideline value for streets in Maduravoyal is Rs 3,050 per sq.ft, with Arcot Road's current value being above this median.