Guideline Value for Arcot Salai

Arcot Salai guideline value

The current guideline value of Arcot Salai is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar Sub Registrar Office (SRO) and is classified as Commercial Special Type - I.

How the guideline value of Arcot Salai has changed

The guideline value for Arcot Salai has undergone several revisions over the years. In the 2007 revision, the value was Rs 4,100 per sq.ft, which increased to Rs 10,000 per sq.ft in the 2012 revision. However, it saw a significant decrease of 33% in the 2017 revision, bringing the value down to Rs 6,700 per sq.ft. The 2023 revision marked a return to growth, with the value rising to Rs 10,000 per sq.ft, and the most recent 2024 revision increased it further to Rs 11,000 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, the guideline value has increased by 168% from Rs 4,100 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Arcot Salai is above this median.

• A.P.Patro Salai: Rs 6,600 per sq.ft (2024)
• Appas Maistry Street: Rs 4,400 per sq.ft (2024)
• Appasamy Street (Block 45): Rs 4,400 per sq.ft (2024)
• Appar Street (Thiru Nagar): Rs 4,400 per sq.ft (2024)
• Appadurai Naicker Street (Block 80): Rs 4,400 per sq.ft (2024)
• Arumugam Naicken Street (Block 80): Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Arcot Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total cost to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arcot Salai?

The Sub Registrar Office that covers Arcot Salai is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

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

Frequently asked questions

What is the current guideline value of Arcot Salai?

The current guideline value of Arcot Salai is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,100 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 168% over the years.

What is the land classification of Arcot Salai?

Arcot Salai is classified as Commercial Special Type - I under the guideline value register.

Where is the Sub Registrar Office for Arcot Salai located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.

How is stamp duty calculated for properties in Arcot Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 1,10,00,000, the stamp duty at 7% would be Rs 7,70,000.