Guideline Value for Arignar Anna Street (Park Street)

Arignar Anna Street (Park Street) guideline value

The current guideline value of Arignar Anna Street (Park Street) is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of Arignar Anna Street (Park Street) has changed

The guideline value for Arignar Anna Street has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which significantly increased to Rs 1,700 per sq.ft in 2012. However, it then decreased to Rs 1,139 per sq.ft in 2017. The 2023 revision saw a substantial increase to Rs 1,700 per sq.ft, followed by another increase to Rs 1,870 per sq.ft in 2024.

Between the revisions, the changes were notable: from 2007 to 2012, there was a rise of 240%, but a decrease of 33% occurred from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, a 10% increase was recorded from 2023 to 2024. The overall change from 2007 to 2024 shows an increase of 274%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Arignar Anna Street (Park Street) is above this median.

• Arignar Anna Street Lane: Rs 1,870 per sq.ft (2024)
• Arignar Anna Street: Rs 1,870 per sq.ft (2024)
• Aruljothi Vallalar Nagar: Rs 2,200 per sq.ft (2024)
• Anna Street: Rs 1,870 per sq.ft (2024)
• Angamman Kovil Street: Rs 1,870 per sq.ft (2024)
• Bajanai Koil Street Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arignar Anna Street (Park Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Arignar Anna Street (Park Street)?

The Sub Registrar Office covering Arignar Anna Street (Park Street) is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the property's value.

When engaging in a property transaction, it is essential to be aware of the guideline value, as it can impact the overall expenses involved in the registration process. Buyers and sellers should consider this value to avoid any unexpected costs during the transaction.

Frequently asked questions

What is the current guideline value of Arignar Anna Street (Park Street)?

The current guideline value of Arignar Anna Street (Park Street) is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 500 per sq.ft in 2007, Rs 1,700 in 2012, Rs 1,139 in 2017, Rs 1,700 in 2023, and currently Rs 1,870 in 2024.

What is the land classification for Arignar Anna Street?

Arignar Anna Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900, and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

Which office handles the registration for properties in Arignar Anna Street?

The Redhills Sub Registrar Office handles the registration for properties in Arignar Anna Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.