Guideline Value for Arcot pattai 1st Street

Arcot pattai 1st Street guideline value

The current guideline value of Arcot pattai 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Arcot pattai 1st Street has changed

The guideline value for Arcot pattai 1st Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, the value then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%.

From 2017, the guideline value rose to Rs 3,000 per sq.ft in 2023, an increase of 49%. The most recent revision in 2024 has further increased the value to Rs 3,300 per sq.ft, representing a 10% rise from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

Nandhambakkam has a range of guideline values across its 76 streets under the Alandur SRO, with figures for 2024 ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Arcot pattai 1st Street's 2024 figure below that median.

• Arcot Pattai 2nd Street: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 3,300 per sq.ft (2024)
• Ambethkar Street: Rs 2,200 per sq.ft (2024)
• Burma Colony: Rs 2,200 per sq.ft (2024)
• Deffence Officers Colony: Rs 6,600 per sq.ft (2024)
• Deffence Officers Colony Main Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Arcot pattai 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arcot pattai 1st Street?

The Sub Registrar Office that covers Arcot pattai 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Nandhambakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark. If the sale price is higher than the guideline value, the duty will be calculated based on the sale price. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Arcot pattai 1st Street?

The current guideline value of Arcot pattai 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the other streets in Nandhambakkam with similar guideline values?

Other streets in Nandhambakkam with similar guideline values include Arcot Pattai 2nd Street and Bajanai Koil Street, both at Rs 3,300 per sq.ft in 2024.

Where can I find the registration office for Arcot pattai 1st Street?

The registration office for Arcot pattai 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Arcot pattai 1st Street?

Stamp duty for properties in Arcot pattai 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.