Guideline Value for Arunachalam Nagar 7th Street

Arunachalam Nagar 7th Street guideline value

The current guideline value of Arunachalam Nagar 7th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village under the Pallavaram SRO, with a land classification of Mixed Type - II.

How the guideline value of Arunachalam Nagar 7th Street has changed

The guideline value for Arunachalam Nagar 7th Street has seen several revisions over the years. In 2003, the value was Rs 185 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. The following revision in 2012 saw a decrease to Rs 3,000 per sq.ft, before rising to Rs 2,010 per sq.ft in 2017. The most recent revisions show a substantial increase, with the value rising to Rs 3,000 per sq.ft in 2023 and then to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while from 2007 to 2012, there was a dramatic increase of 650%. The guideline value has increased by 116% from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has risen by 1,684%. The register has no figure for this street in 2002.

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 value for these streets is Rs 2,530 per sq.ft, placing Arunachalam Nagar 7th Street above this median.

• Arunachalam Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Arunachalam Nagar Main Road: Rs 4,125 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Nagar 7th 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 fees to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arunachalam Nagar 7th Street?

The Sub Registrar Office that covers Arunachalam Nagar 7th Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 an important factor when registering property in Kilkattalai. It is used to determine the stamp duty and registration fees that buyers and sellers must pay during the transaction. The guideline value ensures that the property is valued fairly according to the established rates in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Arunachalam Nagar 7th Street?

The current guideline value of Arunachalam Nagar 7th 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, increasing from Rs 185 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 1,684%.

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 a property valued at Rs 33,00,000, the total fees would be Rs 2,97,000.

Which office handles property registrations for Arunachalam Nagar 7th Street?

The Pallavaram Sub Registrar Office handles property registrations for Arunachalam Nagar 7th Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the median guideline value for streets in Kilkattalai?

The median guideline value for streets in Kilkattalai is Rs 2,530 per sq.ft, with Arunachalam Nagar 7th Street's value being above this median.