Guideline Value for Arunachalam Road

Arunachalam Road guideline value

The current guideline value of Arunachalam Road is Rs 6,050 per sq.ft, effective from 1 July 2024. This road is located in Virugambakkam village, under the jurisdiction of the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Arunachalam Road has changed

The guideline value for Arunachalam Road has seen significant changes over the years. In 2002, the value was Rs 538 per sq.ft, which increased to Rs 596 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 750 per sq.ft in 2007, representing a 26% increase. Following this, the value surged to Rs 5,500 per sq.ft in 2012, reflecting a remarkable 633% increase. However, it decreased to Rs 3,685 per sq.ft in 2017, a drop of 33%. The value then increased again to Rs 5,500 per sq.ft in 2023, and finally, it reached the current value of Rs 6,050 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,025%. The register has no figures for the years not mentioned in this summary.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Arunachalam Road's 2024 figure is above this median.

• Arokkiya Street: Rs 3,300 per sq.ft (2024)
• Arcot Road South Side Vanniar Street: Rs 7,150 per sq.ft (2024)
• Arcot Road (Others): Rs 13,200 per sq.ft (2024)
• Arcot Road Lane: Rs 9,900 per sq.ft (2024)
• Arcot Road (Door No's134 and 134A) New Door No 140: Rs 13,200 per sq.ft (2024)
• Arcot Road 3rd Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,050 per sq.ft, the total guideline value amounts to Rs 60,50,000. The stamp duty at 7% would be Rs 4,23,500, and the registration fee at 2% would be Rs 1,21,000, totaling Rs 5,44,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arunachalam Road?

The Sub Registrar Office that covers Arunachalam Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Ensuring that the sale price meets or exceeds the guideline value is necessary to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Arunachalam Road?

The current guideline value of Arunachalam Road is Rs 6,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 538 in 2002 to Rs 6,050 in 2024, reflecting an overall increase of 1,025% over this period.

What is the registration office for Arunachalam Road?

The registration office for Arunachalam Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties on Arunachalam Road?

Stamp duty for properties on Arunachalam Road is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 4,23,500.

What is the land classification for Arunachalam Road?

Arunachalam Road is classified as Residential Class I Type - I, which defines the nature of the properties that can be developed in this area.