Guideline Value for Arunachalam Nagar 1st Street

Arunachalam Nagar 1st Street guideline value

The current guideline value of Arunachalam Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village under the Pallavaram SRO, and the land classification is Mixed Type - II.

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

Over the years, the guideline value of Arunachalam Nagar 1st Street has seen significant changes. The earliest recorded revision was in 2003, with a guideline value of Rs 185 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a substantial rise of 116%. The value then jumped dramatically to Rs 3,000 per sq.ft in 2012, representing a 650% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, which was a decline of 33% from the previous figure. The value rose again to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise.

It is important to note that the register has no figure for Arunachalam Nagar 1st Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 1684%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft as of 2024. The median guideline value in this area is Rs 2,530 per sq.ft, making the current value of Arunachalam Nagar 1st Street above that median.

• Arunachalam Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Arunachalam Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Arunachalam Nagar: Rs 3,300 per sq.ft (2024)
• Arunachalam Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Arunachalam Nagar 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Nagar 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 amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to 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 Nagar 1st Street?

The Sub Registrar Office that covers Arunachalam Nagar 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kilkattalai. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable at the time of sale. Buyers and sellers should be aware that the guideline value can influence the overall cost of property transactions.

When purchasing property, it is essential to understand that the guideline value serves as a benchmark for registration purposes. It ensures that the property is valued fairly according to the government standards, which helps maintain transparency in real estate transactions.

Frequently asked questions

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

The current guideline value of Arunachalam Nagar 1st 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 significantly from Rs 185 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1684% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Pallavaram Sub Registrar Office covers Arunachalam Nagar 1st Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Arunachalam Nagar 1st Street?

The land classification for Arunachalam Nagar 1st Street is Mixed Type - II, which indicates the type of usage permitted in this area.