Guideline Value for Arunachalam Nagar 2nd Street

Arunachalam Nagar 2nd Street guideline value

The current guideline value of Arunachalam Nagar 2nd 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 is classified as Mixed Type - II land.

How the guideline value of Arunachalam Nagar 2nd Street has changed

Over the years, the guideline value of Arunachalam Nagar 2nd Street has seen significant changes. The earliest recorded value in 2003 was Rs 185 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a substantial rise of 116%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting an impressive increase of 650%. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. From 2017 to 2023, the value jumped to Rs 3,000 per sq.ft, showing a rise of 49%. Finally, the current revision in 2024 set the value at Rs 3,300 per sq.ft, an increase of 10% from the previous year.

The register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1,684%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Arunachalam Nagar 2nd Street's 2024 figure above this median.

• Arunachalam Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Arunachalam Nagar 10th Street: Rs 2,200 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)
• Arunachalam Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Nagar 2nd 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 to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arunachalam Nagar 2nd Street?

The Sub Registrar Office that covers Arunachalam Nagar 2nd 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 information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer and seller must adhere to the guideline value set for that specific area. This value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Arunachalam Nagar 2nd Street?

The current guideline value of Arunachalam Nagar 2nd 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, reflecting an overall increase of 1,684% over this period.

What is the registration office for Arunachalam Nagar 2nd Street?

The registration office for Arunachalam Nagar 2nd Street is the Pallavaram Sub Registrar Office, located in Chennai-600044.

How is stamp duty calculated for properties in Kilkattalai?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate is 7% of the guideline value.

What are the other streets in Kilkattalai with their guideline values?

Other streets in Kilkattalai include Arunachalam Nagar 1st Street and Arunachalam Nagar 5th Street, both valued at Rs 3,300 per sq.ft, as well as Arunachalam Nagar 3rd, 4th, and 10th Streets, which are valued at Rs 2,200 per sq.ft for 2024.