Guideline Value for Sambandam Nagar - Aravindar Street

Sambandam Nagar - Aravindar Street guideline value

The current guideline value for Sambandam Nagar - Aravindar Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam Sub Registrar Office. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sambandam Nagar - Aravindar Street has changed

The guideline value for Sambandam Nagar - Aravindar Street has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 600% rise. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,850 per sq.ft in the 2024 revision, which represents a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 670%. Notably, there are no figures available for this street in the 2002 and 2003 revisions.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which is equal to the current guideline value for Sambandam Nagar - Aravindar Street.

• Samandam Nagar Main Salai: Rs 3,850 per sq.ft (2024)
• Samandam Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Samandam Nagar: Rs 3,850 per sq.ft (2024)
• Sai Ram Nagar Annexe: Rs 3,850 per sq.ft (2024)
• Sairam Avenue 3rd Street: Rs 3,300 per sq.ft (2024)
• Sairam Avenue 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sambandam Nagar - Aravindar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sambandam Nagar - Aravindar Street?

The Sambandam Nagar - Aravindar Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for any further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the prevailing market conditions.

When a buyer purchases a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sambandam Nagar - Aravindar Street?

The current guideline value for Sambandam Nagar - Aravindar Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 670% over the years.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Sambandam Nagar - Aravindar Street is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Sambandam Nagar - Aravindar Street is the Virugambakkam SRO, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Sambandam Nagar - Aravindar Street?

The land classification for Sambandam Nagar - Aravindar Street is Residential Class II Type - I, indicating its suitability for residential development.