Guideline Value for Arcot Road

Arcot Road guideline value

The current guideline value of Arcot Road in Saligramam village, under the Virugambakkam SRO, is Rs 13,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of Arcot Road has changed

The guideline value for Arcot Road has seen several revisions over the years. In 2002, the value was Rs 1,861 per sq.ft, which increased to Rs 2,061 per sq.ft in 2003, reflecting a rise of 11%. The value then surged significantly to Rs 5,250 per sq.ft in 2007, marking a 155% increase. Following that, in 2012, it decreased to Rs 12,000 per sq.ft, a drop of 33%. The value was revised again in 2017 to Rs 8,040 per sq.ft, which was a 49% increase from the previous revision. In 2023, the guideline value rose to Rs 12,000 per sq.ft, and the most recent revision in 2024 set it at Rs 13,200 per sq.ft, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 609%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values for 2024 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, placing Arcot Road's 2024 figure above this median.

• Arunachalam Road (Main): Rs 7,690 per sq.ft (2024)
• Anna Road: Rs 6,600 per sq.ft (2024)
• A.V.M.Nagar: Rs 4,950 per sq.ft (2024)
• A.V.M Street: Rs 4,400 per sq.ft (2024)
• Bajanai Koil 1st Street: Rs 3,850 per sq.ft (2024)
• Bajanai Koil 2nd 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 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total charges to Rs 11,88,000. It is important to note that 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 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 Saligramam

The guideline value plays a crucial role in the registration of property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are documented at a fair value as per government standards.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Arcot Road?

The current guideline value of Arcot Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,861 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification for Arcot Road?

The land classification for Arcot Road is Mixed Special Type - II, which is important for understanding the zoning and usage regulations in the area.

Where can I find the registration office for Arcot Road?

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

How is the stamp duty calculated for properties in Arcot Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,32,00,000 would incur a stamp duty of Rs 9,24,000 at a rate of 7%.