Guideline Value for Arulappa Street

Arulappa Street guideline value

The current guideline value of Arulappa Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Arulappa Street has changed

The guideline value for Arulappa Street has seen several revisions over the years. In 2002, the value was Rs 462 per sq.ft, which increased to Rs 690 per sq.ft in 2003, marking a 49% rise. The value further increased to Rs 1,200 per sq.ft in 2007, a significant jump of 74%. By 2012, the value was Rs 4,000 per sq.ft, reflecting an increase of 233% from the previous revision. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 852%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Arulappa Street's current value below that median.

• Arumuga naicker Street: Rs 4,400 per sq.ft (2024)
• Anna Street (Vellala Street 2nd Lane): Rs 4,400 per sq.ft (2024)
• Anna Street (GKM Colony) Chennai 82: Rs 4,400 per sq.ft (2024)
• Avvai Nagar 2nd Street, G.K.M.COLONY: Rs 4,400 per sq.ft (2024)
• Avvai Nagar, Chennai 82: Rs 4,400 per sq.ft (2024)
• Ayanavaram Salai: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Arulappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 further calculations.

Which Sub Registrar Office covers Arulappa Street?

The Sub Registrar Office that covers Arulappa Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Ayanavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable at the time of registration. It ensures that the government receives the appropriate revenue from property transactions.

Additionally, the guideline value serves as a reference point for both buyers and sellers in negotiations. It provides a standardized measure of property value within the locality, helping to facilitate fair transactions based on established rates.

Frequently asked questions

What is the current guideline value of Arulappa Street?

The current guideline value of Arulappa Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 462 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 852% over the years.

What is the land classification of Arulappa Street?

Arulappa Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What is the stamp duty rate for property in Arulappa Street?

The stamp duty rate for property transactions in Arulappa Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Arulappa Street located?

The Sub Registrar Office covering Arulappa Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.