Guideline Value for Arunachalam Nagar 8th Street

Arunachalam Nagar 8th Street guideline value

The current guideline value of Arunachalam Nagar 8th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village and falls under the Pallavaram SRO. The land classification for this area is Mixed Type - II.

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

The guideline value for Arunachalam Nagar 8th Street has seen several revisions over the years. In 2003, the guideline value was Rs 185 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. The value then rose dramatically to Rs 3,000 per sq.ft in 2012, but it decreased to Rs 2,010 per sq.ft in 2017. The value was revised to Rs 3,000 per sq.ft in 2023 and has now increased to Rs 3,300 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2003 to 2007, the value increased by 116%. However, from 2012 to 2017, there was a decrease of 33%. The most significant increase occurred from 2017 to 2023, with a rise of 49%. The overall increase from 2003 to 2024 is a remarkable 1684%. The register has no figure for the year 2002 for this street.

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, and the median value is Rs 2,530 per sq.ft. Arunachalam Nagar 8th Street's 2024 guideline value is above this median.

• Arunachalam Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Nagar Main Road: Rs 4,125 per sq.ft (2024)
• Arunachalam Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Nagar 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 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. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Arunachalam Nagar 8th Street?

The Sub Registrar Office that covers Arunachalam Nagar 8th 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is reported accurately to the authorities.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the total cost of the transaction.

Frequently asked questions

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

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

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

The land classification for Arunachalam Nagar 8th Street is Mixed Type - II.

Which Sub Registrar Office is responsible for property transactions in this area?

The Pallavaram Sub Registrar Office is responsible for property transactions in Arunachalam Nagar 8th Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 3,300 per sq.ft, the total fees would amount to Rs 2,97,000.