Guideline Value for Arumugam Naicken Street(Block 80)

Arumugam Naicken Street(Block 80) guideline value

The current guideline value of Arumugam Naicken Street (Block 80) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Arumugam Naicken Street(Block 80) has changed

The guideline value of Arumugam Naicken Street has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 369%. However, from 2012 to 2017, there was a decrease to Rs 2,512 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 3,750 per sq.ft in 2023, which represented a 49% increase. The most recent revision in 2024 set the guideline value at Rs 4,100 per sq.ft, an increase of 9% from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are a total of 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Arumugam Naicken Street's 2024 figure below this median.

• Arunachalam Block 1st Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 2nd Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 3rd Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 4th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 5th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arumugam Naicken Street(Block 80)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total cost to Rs 3,69,000. 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 detailed calculations.

Which Sub Registrar Office covers Arumugam Naicken Street(Block 80)?

The Sub Registrar Office that covers Arumugam Naicken Street (Block 80) is the Ashok Nagar 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 Kodambakkam

The guideline value is a crucial factor when buying or selling property in Kodambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property transaction process.

When a buyer decides to purchase a property, the guideline value helps in ensuring that the transaction is recorded accurately and legally. It serves as a reference point for both buyers and sellers to understand the value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Arumugam Naicken Street?

The current guideline value of Arumugam Naicken Street (Block 80) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 413% over the years.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 and the registration fee would be Rs 82,000, totaling Rs 3,69,000.

Which Sub Registrar Office is responsible for this area?

The Ashok Nagar Sub Registrar Office is responsible for Arumugam Naicken Street (Block 80), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value of a property, which in turn affects the stamp duty and registration fees payable during a transaction.