Guideline Value for Arunachalam Street,

Arunachalam Street, guideline value

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

How the guideline value of Arunachalam Street has changed

The guideline value for Arunachalam Street has seen several revisions over the years. In the 2007 revision, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure decreased to Rs 2,010 per sq.ft in the 2017 revision. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 has set it at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2007 to 2024, the guideline value has increased by a total of 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. Arunachalam Street's 2024 figure is below this median.

• Aruna Colony: Rs 6,600 per sq.ft (2024)
• Arunachalam Block 8th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 7th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 6th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 5th Street: Rs 3,300 per sq.ft (2024)
• Arunachalam Block 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arunachalam Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arunachalam Street?

The Sub Registrar Office that covers Arunachalam Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is a crucial aspect in the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process is essential for maintaining transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Arunachalam Street?

The current guideline value of Arunachalam 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 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, an increase of 313% over the years.

What are the stamp duty and registration fees for property in Arunachalam Street?

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 is responsible for Arunachalam Street?

The Ashok Nagar Sub Registrar Office is responsible for Arunachalam Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Arunachalam Street?

The land classification for Arunachalam Street is Residential Class IV Type - II.