Guideline Value for Arundathi Nagar

Arundathi Nagar guideline value

The current guideline value of Arundathi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is part of Nungambakkam village, under the Chennai Central Joint II SRO, and is classified as Residential Class V Type - III.

How the guideline value of Arundathi Nagar has changed

The guideline value for Arundathi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 900 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 2,010 per sq.ft. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Arundathi Nagar's 2024 figure below that median.

• Appu Naicken St: Rs 6,600 per sq.ft (2024)
• Avenue Road: Rs 11,500 per sq.ft (2024)
• Annasalai: Rs 20,900 per sq.ft (2024)
• Ayya Street: Rs 5,500 per sq.ft (2024)
• Aziz mulk 1st St.: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 2nd St: Rs 10,400 per sq.ft (2024)

Stamp duty and registration fee for property in Arundathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arundathi Nagar?

The Sub Registrar Office that covers Arundathi Nagar is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations for their property pricing.

Frequently asked questions

What is the current guideline value of Arundathi Nagar?

The current guideline value of Arundathi Nagar 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 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the stamp duty and registration fees for property in Arundathi Nagar?

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 covers Arundathi Nagar?

The Chennai Central Joint II Sub Registrar Office covers Arundathi Nagar, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property, ensuring that appropriate stamp duty and registration fees are collected. It helps buyers and sellers understand the fair valuation of properties.