Guideline Value for Arunchala lane

Arunchala lane guideline value

The current guideline value of Arunchala lane in Chindadripet village, under the Periamet SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Arunchala lane has changed

The guideline value of Arunchala lane has seen several revisions over the years. In 2007, the value was set at Rs 900 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, but then dropped to Rs 2,345 per sq.ft in 2017. The 2023 revision raised it to Rs 3,500 per sq.ft, and the latest revision in 2024 has brought it to Rs 3,800 per sq.ft.

From 2007 to 2024, the overall change in the guideline value is an increase of 322%. Notably, the value jumped by 289% from 2007 to 2012, but then saw a decrease of 33% from 2012 to 2017. The most recent change from 2023 to 2024 reflects an increase of 9%.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Arunchala lane's 2024 figure above that median.

• Arunachala Naicken street: Rs 8,200 per sq.ft (2024)
• Audiyappa Chety street: Rs 3,800 per sq.ft (2024)
• Ayya Mudalai Street: Rs 3,800 per sq.ft (2024)
• Ayya mudali lane: Rs 3,800 per sq.ft (2024)
• Ayya Mudali street: Rs 6,000 per sq.ft (2024)
• Balakrishna Pillai 1st lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arunchala lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total cost for these fees Rs 3,42,000. 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 details on fees applicable to your property transaction.

Which Sub Registrar Office covers Arunchala lane?

The Sub Registrar Office that covers Arunchala lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chindadripet. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation.

During registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the property's worth in the market.

Frequently asked questions

What is the current guideline value of Arunchala lane?

The current guideline value of Arunchala lane is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, representing an overall increase of 322% over the years.

What are the stamp duty rates for property in Arunchala lane?

The stamp duty rate for property transactions in Arunchala lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Arunchala lane located?

The Sub Registrar Office for Arunchala lane is located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value for streets in Chindadripet?

The median guideline value for streets in Chindadripet is Rs 3,300 per sq.ft, with Arunchala lane's value being above this median.