Guideline Value for River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar)

River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar) guideline value

The current guideline value of River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar) has changed

Over the years, the guideline value for River Side Street has undergone several revisions. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this value dropped to Rs 3,015 per sq.ft in 2017. The 2023 revision saw a notable increase to Rs 4,500 per sq.ft, followed by the current 2024 revision at Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

In summary, the changes between revisions have been substantial. The guideline value increased by 272% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 305%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which is equal to the 2024 figure for River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar).

• River side Street (Parallel to Kasi Theatre Bridge): Rs 4,900 per sq.ft (2024)
• R.K. Shanmugam Salai: Rs 8,800 per sq.ft (2024)
• R.K. Shanmugam Salai Extension: Rs 8,800 per sq.ft (2024)
• Reserve Bank Colony (Kamarajar Salai): Rs 5,500 per sq.ft (2024)
• Reddy Kuppam Road: Rs 4,900 per sq.ft (2024)
• R.C. Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar)?

The Sub Registrar Office that covers River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar) is the Ashok Nagar 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 Kodambakkam

The guideline value is a critical factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, both parties must be aware of the guideline value to avoid any discrepancies during the registration process. This value helps in assessing the financial obligations related to the transaction, such as stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar)?

The current guideline value is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with various revisions in between, including a drop in 2017 before rising again in subsequent years.

What is the land classification for River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar)?

River Side Street is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for this area?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at 7%.