Guideline Value for East Arasamaram Street

East Arasamaram Street guideline value

The current guideline value of East Arasamaram Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village and falls under the AnnaNagar SRO, classified as Residential Class II Type - II.

How the guideline value of East Arasamaram Street has changed

The guideline value for East Arasamaram Street has seen several revisions over the years. In 2007, the value was Rs 1,150 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value rose to Rs 4,000 per sq.ft in 2023 and has now reached Rs 4,400 per sq.ft in the 2024 revision.

Between the revisions, the changes are notable. From 2007 to 2012, there was an increase of 248%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 283% from 2007 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Aminjikarai

Aminjikarai has a total of 99 streets under the AnnaNagar SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of East Arasamaram Street.

• East Club Road: Rs 14,300 per sq.ft (2024)
• East Mada Lane: Rs 4,400 per sq.ft (2024)
• East Mada Street: Rs 4,400 per sq.ft (2024)
• East Park Road: Rs 14,300 per sq.ft (2024)
• Gajalakshmi Colony: Rs 5,500 per sq.ft (2024)
• Gajapathy Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in East Arasamaram Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that 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 East Arasamaram Street?

The Sub Registrar Office that covers East Arasamaram Street is the AnnaNagar 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 more information.

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

The guideline value is a critical factor during the registration of property transactions in Aminjikarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of properties in the area.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of East Arasamaram Street?

The current guideline value of East Arasamaram Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with an increase from Rs 1,150 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 283%.

What is the land classification for East Arasamaram Street?

East Arasamaram Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for East Arasamaram Street?

The Sub Registrar Office for East Arasamaram Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in East Arasamaram Street?

Stamp duty for properties is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,96,000.