Guideline Value for Arvind Nagar 2nd Street

Arvind Nagar 2nd Street guideline value

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

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

The guideline value for Arvind Nagar 2nd Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value rose significantly to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

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

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Arvind Nagar 2nd Street above this median.

• Arvind Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Arvind Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Arvind Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Arvind Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Arvind Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Arvind Nagar 5th Street: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to 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, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Arvind Nagar 2nd Street?

The Sub Registrar Office that covers Arvind Nagar 2nd 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 plays a crucial role during the registration of property transactions in Madambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions. Buyers and sellers must be aware of this value to avoid discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Arvind Nagar 2nd 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, with Arvind Nagar 2nd Street's current value being above this median.

What are the stamp duty and registration fees for property in Arvind Nagar 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000. The stamp duty is Rs 1,92,500, and the registration fee is Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Arvind Nagar 2nd Street?

The Selaiyur Sub Registrar Office covers Arvind Nagar 2nd Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.