Guideline Value for VATHALAKUNDU ARUMUGAM NAGAR I ST STREET

Vathalakundu Arumugam Nagar I St Street guideline value

The current guideline value for Vathalakundu Arumugam Nagar I St Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and falls under the Residential Class V Type - I land classification.

How the guideline value of Vathalakundu Arumugam Nagar I St Street has changed

The guideline value for Vathalakundu Arumugam Nagar I St Street has seen several revisions over the years. Starting from the 2007 revision, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 329% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase, and finally, it reached Rs 3,300 per sq.ft in the 2024 revision, representing a 10% increase.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, the guideline value has increased by 371% from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value for Vathalakundu Arumugam Nagar I St Street is below this median.

• Vathalakundu Arumugam Nagar II Nd Street: Rs 3,300 per sq.ft (2024)
• Vathalakundu Arumugam Nagar IV Th Street: Rs 3,300 per sq.ft (2024)
• Vathalakundu Arumugam Nagar III Rd Street: Rs 3,300 per sq.ft (2024)
• Vathalakundu Arumugam Nagar: Rs 3,300 per sq.ft (2024)
• Vasuki Street: Rs 4,400 per sq.ft (2024)
• Veena Garden: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vathalakundu Arumugam Nagar I St Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the 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 Vathalakundu Arumugam Nagar I St Street?

The Vathalakundu Arumugam Nagar I St Street is covered by 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 Arumbakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the registration office will assess the guideline value to calculate the necessary fees, ensuring that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vathalakundu Arumugam Nagar I St Street?

The current guideline value of Vathalakundu Arumugam Nagar I St Street is Rs 3,300 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 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is generally 7% of the guideline value or sale price, whichever is higher.

Where can I find the Kodambakkam Sub Registrar Office?

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

What are the other streets with the same guideline value in Arumbakkam?

Other streets in Arumbakkam with the same guideline value of Rs 3,300 per sq.ft in 2024 include Vathalakundu Arumugam Nagar II Nd Street, Vathalakundu Arumugam Nagar IV Th Street, Vathalakundu Arumugam Nagar III Rd Street, and Vathalakundu Arumugam Nagar.