Guideline Value for NEW AROCKIASAMY STREET

New Arockiasamy Street guideline value

The current guideline value of New Arockiasamy Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class IV Type - III.

How the guideline value of New Arockiasamy Street has changed

The guideline value for New Arockiasamy Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,050 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in the 2012 revision. This figure remained unchanged until the 2023 revision, which also recorded Rs 3,500 per sq.ft. However, in the 2024 revision, the guideline value rose to Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 262%. Notably, there are no figures available for the years 2002, 2003, and 2017 for New Arockiasamy Street in the register.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, which indicates that New Arockiasamy Street's 2024 figure is below this median.

• New Market Street: Rs 6,300 per sq.ft (2024)
• Nerkundram Pathai: Rs 6,300 per sq.ft (2024)
• Nerkundram 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Nelson Manickam Road: Rs 11,000 per sq.ft (2024)
• Nehru Street (Choolaimedu High Road East Side): Rs 5,300 per sq.ft (2024)
• Nehru Street (Anna Nedumpathai Left Side): Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in New Arockiasamy Street

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers New Arockiasamy Street?

The Sub Registrar Office that covers New Arockiasamy Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a value that reflects the current market standards, thereby helping to maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of New Arockiasamy Street?

The current guideline value of New Arockiasamy Street 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 increased from Rs 1,050 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking a total increase of 262% over the years.

What is the classification of land on New Arockiasamy Street?

New Arockiasamy Street is classified as Residential Class IV Type - III according to the guideline value register.

What are the stamp duty and registration fees for property transactions?

For a 1,000 sq.ft plot valued at Rs 3,800 per sq.ft, the total stamp duty and registration fees would amount to Rs 3,42,000, calculated based on the guideline value.

Where is the Sub Registrar Office for New Arockiasamy Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, and it covers New Arockiasamy Street.