Guideline Value for Aristattle Street

Aristattle Street guideline value

The current guideline value of Aristattle Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Aristattle Street has changed

The guideline value for Aristattle Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft. In 2017, this figure decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, the value rebounded significantly in the following revisions, with the 2023 revision increasing it to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in 2024, representing a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which aligns with the 2024 figure for Aristattle Street.

• Aridasapuram Main Road: Rs 1,650 per sq.ft (2024)
• Apragamlingan street: Rs 3,850 per sq.ft (2024)
• Apparao Colony 2nd Street: Rs 3,850 per sq.ft (2024)
• Apparao Colony 1st Street: Rs 3,850 per sq.ft (2024)
• Anna Street Thirumurugan Street: Rs 2,750 per sq.ft (2024)
• Anna Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Aristattle Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 more details.

Which Sub Registrar Office covers Aristattle Street?

The Sub Registrar Office that covers Aristattle Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are conducted at a fair value.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Aristattle Street?

The current guideline value of Aristattle Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with fluctuations including a decrease to Rs 1,005 per sq.ft in 2017 and a return to Rs 1,500 per sq.ft in 2023.

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

Other streets in Chitlapakkam with similar guideline values include Aridasapuram Main Road at Rs 1,650 per sq.ft and several streets at higher rates, such as Apragamlingan street and Apparao Colony streets at Rs 3,850 per sq.ft.

What are the stamp duty and registration fees for properties in Aristattle Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where can I find the Sub Registrar Office for Aristattle Street?

The Sub Registrar Office for Aristattle Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.