Guideline Value for Arivalan Street

Arivalan Street guideline value

The current guideline value of Arivalan Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class II Type - II.

How the guideline value of Arivalan Street has changed

In the 2017 revision, the guideline value for Arivalan Street was Rs 1,005 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 shows a further increase to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, indicating that Arivalan Street's 2024 figure is below this median.

• Arul Murgan Nagar Extension Krishna Nagar: Rs 2,200 per sq.ft (2024)
• Arul Murugan Nagar: Rs 2,200 per sq.ft (2024)
• Arul Murugan Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Arul Murugan Nagar Extension: Rs 2,200 per sq.ft (2024)
• Arumugam Cross street: Rs 2,200 per sq.ft (2024)
• Arumugam Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arivalan Street

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

Which Sub Registrar Office covers Arivalan Street?

The Sub Registrar Office that covers Arivalan Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

When buying or selling property in Madipakkam-1, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark to ensure that the transaction is recorded accurately and fairly, reflecting the current market conditions as per the government’s assessment.

It is important to note that the guideline value is updated periodically, and buyers should be aware of the latest figures to avoid any discrepancies during the registration process. This ensures compliance with local regulations and helps in smooth property transactions.

Frequently asked questions

What is the current guideline value of Arivalan Street?

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

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,005 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 64%.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current value of Arivalan Street.

What are the stamp duty and registration fees for a property in Arivalan Street?

The stamp duty for a property valued at Rs 16,50,000 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 Arivalan Street?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.