Guideline Value for Arunachalam Block 1st Street

Arunachalam Block 1st Street guideline value

The current guideline value of Arunachalam Block 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Arunachalam Block 1st Street has changed

The guideline value of Arunachalam Block 1st Street has undergone several revisions over the years. The oldest recorded revision is from 2007, where the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 2,010 per sq.ft in 2017, marking a change of +151%. Following that, the value rose to Rs 3,000 per sq.ft in 2023, which was a +49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a +10% increase from 2023.

It is important to note that there are no recorded figures for this street in the revisions of 2002, 2003, and 2012. Overall, from 2007 to 2024, the guideline value has increased by +313%.

Guideline values in Kodambakkam

In Kodambakkam, there are a total of 1,031 streets under the Ashok Nagar SRO that carry 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 Arunachalam Block 1st Street's 2024 figure below this median.

• 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)
• Arunachalam Block 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Block 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Arunachalam Block 1st Street?

The Sub Registrar Office that covers Arunachalam Block 1st Street 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 critical factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and transparently.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Arunachalam Block 1st Street?

The current guideline value of Arunachalam Block 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 800 per sq.ft to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +313%.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total cost would be Rs 2,97,000.

Which Sub Registrar Office covers Arunachalam Block 1st Street?

The Ashok Nagar Sub Registrar Office covers Arunachalam Block 1st Street, 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. Buyers must pay stamp duty and registration fees based on the higher of the guideline value or the sale price.