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

Arunachala Eswarar Koil Street(South Mada Veethy) guideline value

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

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

The guideline value for Arunachala Eswarar Koil Street(South Mada Veethy) has seen several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. However, this figure dropped by 33% to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision marked a significant increase to Rs 1,500 per sq.ft, followed by another rise to Rs 1,600 per sq.ft in the 2024 revision, reflecting a 7% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has doubled, showing an increase of 100% over this period.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which is equal to the 2024 figure for Arunachala Eswarar Koil Street(South Mada Veethy).

• Arunachala Eswarar Koil Street(North 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(South 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 would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and 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(South Mada Veethy)?

The Sub Registrar Office that covers Arunachala Eswarar Koil Street(South 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

The guideline value plays a crucial role during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate taxes from the transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the stamp duty and registration fees. Buyers should ensure that they are prepared to pay these fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Arunachala Eswarar Koil Street(South Mada Veethy)?

The current guideline value for Arunachala Eswarar Koil Street(South 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 is the land classification for this street?

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

Which Sub Registrar Office covers this street?

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.