Guideline Value for Arcot Road

Arcot Road guideline value

The current guideline value of Arcot Road in Valasaravakkam village, under the Virugambakkam SRO, is Rs 8,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Arcot Road has changed

Over the years, the guideline value of Arcot Road has seen significant changes. The earliest recorded figure is Rs 750 per sq.ft in 2002. This increased to Rs 1,000 per sq.ft in 2003, marking a 33% rise. By 2007, the value surged to Rs 1,100 per sq.ft, reflecting a 10% increase. In 2012, the value was Rs 8,000 per sq.ft, showing a remarkable 627% jump from the previous revision. However, in 2017, it decreased to Rs 5,360 per sq.ft, a decline of 33%. The value then increased to Rs 8,000 per sq.ft in 2023, and finally, it reached Rs 8,800 per sq.ft in 2024, a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,073%. There are no figures available for revisions in years not mentioned in the register.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft as of 2024. The median value for these streets is Rs 3,850 per sq.ft, placing Arcot Road's 2024 figure above this median.

• Arignar Anna Avenue Cross Street: Rs 2,750 per sq.ft (2024)
• Aringnar Anna Avenue: Rs 2,750 per sq.ft (2024)
• Arumuga Navalar Street: Rs 4,950 per sq.ft (2024)
• Anna Street: Rs 3,300 per sq.ft (2024)
• Ashtalakshmi Nagar: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 2nd Street: Rs 4,400 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 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, resulting in a total of Rs 7,92,000. It is important to note that the 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 precise calculations.

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 further assistance.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Valasaravakkam. It serves as a benchmark for the minimum value at which properties are registered, ensuring transparency in transactions.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives fair revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Arcot Road?

The current guideline value of Arcot Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 750 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 1,073%.

What is the land classification for Arcot Road?

The land classification for Arcot Road is Mixed Special Type - I.

What are the stamp duty and registration fees for property in Arcot Road?

The stamp duty is 7% and the registration fee is 2% of the guideline value, which for a 1,000 sq.ft plot amounts to Rs 7,92,000 in total fees.

Where is the Sub Registrar Office for Arcot Road located?

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