Guideline Value for Arput nath street

Arput nath street guideline value

The current guideline value of Arput nath street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village, under the Chennai North Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Arput nath street has changed

The guideline value for Arput nath street has undergone several revisions over the years. Starting from Rs 1,560 per sq.ft in 2002, it increased to Rs 1,773 per sq.ft in 2003, marking a change of +14%. The value then rose to Rs 2,000 per sq.ft in 2007, reflecting an increase of +13%. Following this, the value surged to Rs 5,000 per sq.ft in 2012, a significant jump of +150%. However, it decreased to Rs 3,350 per sq.ft in 2017, showing a decline of -33%. The value then increased to Rs 5,000 per sq.ft in 2023, and finally, it reached the current value of Rs 5,500 per sq.ft in 2024, an increase of +10%.

There are no figures available for the revisions in the years not listed. Overall, from 2002 to 2024, the guideline value has increased by +253%.

Guideline values in Muthialpet

In Muthialpet village, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value is Rs 5,500 per sq.ft, which is equal to the current guideline value of Arput nath street.

• Armenian segment 4th segment (Mannady to Ibrahim Street): Rs 14,800 per sq.ft (2024)
• Armenian 3rd Segment (Post Office to Mannady Street Junction): Rs 14,800 per sq.ft (2024)
• Armenian 2nd segment (from Mookar Nallamuthu Street to Post Office street Junction): Rs 15,900 per sq.ft (2024)
• Armenian 1st segment (N.S.C.Bose road to Mookar Nallamuthu Street): Rs 16,500 per sq.ft (2024)
• Appupillai Lane @ Appu Maistry Street: Rs 3,800 per sq.ft (2024)
• Appasamy street *: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Arput nath street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees together Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arput nath street?

The Sub Registrar Office that covers Arput nath street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Arput nath street?

The current guideline value of Arput nath street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,560 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +253% over the years.

What is the land classification for Arput nath street?

Arput nath street is classified as Residential Class II Type - I under the Chennai North Joint I SRO.

Where can I find the Sub Registrar Office for Arput nath street?

The Sub Registrar Office for Arput nath street is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

How is stamp duty calculated for properties in Muthialpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the fees are aligned with the official valuation during the registration process.