Guideline Value for R.D. Arasu Street

R.D. Arasu Street guideline value

The current guideline value of R.D. Arasu Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class IV Type - I.

How the guideline value of R.D. Arasu Street has changed

Over the years, the guideline value of R.D. Arasu Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in 2017. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and finally, it reached Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing R.D. Arasu Street's 2024 figure below the median.

• Reddy Street: Rs 2,200 per sq.ft (2024)
• Rettamalai Srinivasan Street: Rs 2,200 per sq.ft (2024)
• Ramakrishna Thiru-vi-ka Link Road: Rs 2,200 per sq.ft (2024)
• Salaima Nagar: Rs 2,200 per sq.ft (2024)
• Sanathy Street: Rs 2,200 per sq.ft (2024)
• Sanjay Gandhi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in R.D. Arasu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.D. Arasu Street?

The Sub Registrar Office that covers R.D. Arasu Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential reference point used during the registration of property transactions in Erukancherry. It acts as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is crucial for both the buyer and seller. This value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of R.D. Arasu Street?

The current guideline value of R.D. Arasu Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 2,000 in 2023 to Rs 2,200 in 2024. It previously decreased from Rs 2,000 in 2012 to Rs 1,340 in 2017 before rising again.

What is the land classification for R.D. Arasu Street?

R.D. Arasu Street is classified as Residential Class IV Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for R.D. Arasu Street?

The Madhavaram Sub Registrar Office covers R.D. Arasu Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.