Guideline Value for Arul Karunakaran Street

Arul Karunakaran Street guideline value

The current guideline value of Arul Karunakaran Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Arul Karunakaran Street has changed

Over the years, the guideline value for Arul Karunakaran Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 670 per sq.ft. The value then increased to Rs 1,000 per sq.ft in 2023, followed by the latest revision in 2024, which raised it to Rs 1,100 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Arul Karunakaran Street is below this median.

• Archana Nagar Extn: Rs 3,300 per sq.ft (2024)
• Archana Nagar 2nd Cross ST: Rs 1,100 per sq.ft (2024)
• Archana Nagar: Rs 1,100 per sq.ft (2024)
• Ashokar Street: Rs 1,650 per sq.ft (2024)
• Anna Street 3st Cross St: Rs 1,320 per sq.ft (2024)
• Anna Street 2st Cross St: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Karunakaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. 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 Arul Karunakaran Street?

The Sub Registrar Office that covers Arul Karunakaran 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 Peerklankaranai

When buying or selling property in Peerklankaranai, the guideline value is a crucial factor in determining the stamp duty and registration fees. This value is set by the government and is used to calculate the taxes applicable during the registration process.

It is essential for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction. Ensuring that the sale price meets or exceeds the guideline value is important for compliance with local regulations.

Frequently asked questions

What is the current guideline value of Arul Karunakaran Street?

The current guideline value of Arul Karunakaran Street is Rs 1,100 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 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Arul Karunakaran Street?

Arul Karunakaran Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Arul Karunakaran Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000, with stamp duty at Rs 77,000 and registration fee at Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Arul Karunakaran Street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.