Guideline Value for Arunachalam Block 8th Street

Arunachalam Block 8th Street guideline value

The current guideline value of Arunachalam Block 8th 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 is Residential Class IV Type - II.

How the guideline value of Arunachalam Block 8th Street has changed

The guideline value for Arunachalam Block 8th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 275%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, and further increased to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%, illustrating significant changes over the years.

Guideline values in Kodambakkam

In Kodambakkam, there are 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 value among these streets is Rs 4,900 per sq.ft, indicating that the guideline value for Arunachalam Block 8th Street is below this median.

• Arunachalam Block 7th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 6th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 5th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 4th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 3rd Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Block 8th Street

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

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arunachalam Block 8th Street?

The Sub Registrar Office covering Arunachalam Block 8th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Arunachalam Block 8th Street?

The current guideline value of Arunachalam Block 8th Street is Rs 3,300 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 3,300 per sq.ft in 2024, reflecting an overall increase of 313% over these years.

What is the land classification for Arunachalam Block 8th Street?

The land classification for Arunachalam Block 8th Street is Residential Class IV Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Arunachalam Block 8th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.