Guideline Value for Arunachalam Block 3rd Street

Arunachalam Block 3rd Street guideline value

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

How the guideline value of Arunachalam Block 3rd Street has changed

The guideline value for Arunachalam Block 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 800 per sq.ft. This increased significantly to Rs 2,010 per sq.ft in 2017, marking a substantial rise of 151%. In 2023, the value further increased to Rs 3,000 per sq.ft, reflecting a 49% change from the previous revision. The latest revision in 2024 sets the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from 2023.

There are no recorded figures for the years 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

In Kodambakkam, there are 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 value for these streets is Rs 4,900 per sq.ft, placing Arunachalam Block 3rd Street's 2024 figure below the 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)
• Arunachalam Block 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Block 3rd 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 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Arunachalam Block 3rd Street?

The Arunachalam Block 3rd Street falls under the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in transactions.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Arunachalam Block 3rd Street?

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

How 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 a total increase of 313% over the years.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the current value of Arunachalam Block 3rd Street.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Ashok Nagar Sub Registrar Office?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.