Guideline Value for Arvind Nagar 2nd Cross Street

Arvind Nagar 2nd Cross Street guideline value

The current guideline value of Arvind Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Arvind Nagar 2nd Cross Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,750 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

Madambakkam has a total of 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for the village is Rs 2,400 per sq.ft, placing the 2024 figure for Arvind Nagar 2nd Cross Street above this median.

• Arvind Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Arvind Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Arvind Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Arvind Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Arvind Nagar: Rs 2,750 per sq.ft (2024)
• Arvind Nagar 4th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Arvind Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. 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 Arvind Nagar 2nd Cross Street?

The Sub Registrar Office covering Arvind Nagar 2nd Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must be aware that the guideline value is used to calculate stamp duty and registration fees during the registration process.

When a property is sold, the guideline value serves as a benchmark for assessing the transaction value. If the sale price is lower than the guideline value, the higher amount is used for calculating the applicable fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Arvind Nagar 2nd Cross Street?

The current guideline value of Arvind Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Arvind Nagar 2nd Cross Street?

Arvind Nagar 2nd Cross Street is classified as Commercial Class I Type - I.

Where can I find the registration office for this area?

The registration office for Arvind Nagar 2nd Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty would be calculated at 7% of that amount.