Guideline Value for Arunachala Eswarar Koil Street(North Mada Veethy)

Arunachala Eswarar Koil Street(North Mada Veethy) guideline value

The current guideline value of Arunachala Eswarar Koil Street(North Mada Veethy) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Arunachala Eswarar Koil Street(North Mada Veethy) has changed

Over the years, the guideline value for Arunachala Eswarar Koil Street(North Mada Veethy) has seen several revisions. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, there was a notable decrease to Rs 1,005 per sq.ft in the 2017 revision. The value then rose to Rs 1,500 per sq.ft in 2023, culminating in the current value of Rs 1,600 per sq.ft from the 2024 revision.

The changes between these revisions are significant. From 2007 to 2012, there was an increase of 88%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 7% increase from 2023 to 2024. Overall, the guideline value has doubled from Rs 800 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024.

Guideline values in Tondaiarpet

Tondaiarpet village has a total of 1384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is the same as the current value for Arunachala Eswarar Koil Street(North Mada Veethy).

• Arunachala Eswarar Koil Street(South Mada Veethy): Rs 1,600 per sq.ft (2024)
• Arunachala Eswarar Koil Street(West Mada Veethy): Rs 1,600 per sq.ft (2024)
• Arumugam Lane: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 1st street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 3rd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachala Eswarar Koil Street(North Mada Veethy)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arunachala Eswarar Koil Street(North Mada Veethy)?

The Sub Registrar Office that covers Arunachala Eswarar Koil Street(North Mada Veethy) is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

When buying or selling property in Tondaiarpet, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the financial aspects of property transactions. Understanding the guideline value can help in budgeting for the total costs involved in buying or selling property.

Frequently asked questions

What is the current guideline value of Arunachala Eswarar Koil Street(North Mada Veethy)?

The current guideline value of Arunachala Eswarar Koil Street(North Mada Veethy) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 100% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office is responsible for this street?

The Royapuram Sub Registrar Office is responsible for Arunachala Eswarar Koil Street(North Mada Veethy), located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Arunachala Eswarar Koil Street(North Mada Veethy)?

The land classification for Arunachala Eswarar Koil Street(North Mada Veethy) is Residential Class I Type - II.