Guideline Value for VATHALAKUNDU ARUMUGAM NAGAR III RD STREET

Vathalakundu Arumugam Nagar III Rd Street guideline value

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

How the guideline value of Vathalakundu Arumugam Nagar III Rd Street has changed

The guideline value for Vathalakundu Arumugam Nagar III Rd Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 700 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, the value then dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 saw it rise again to Rs 3,000 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Arumbakkam

In Arumbakkam, a total of 391 streets under the Kodambakkam SRO have a guideline value for 2024 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 III Rd Street is below this median.

• Vathalakundu Arumugam Nagar: Rs 3,300 per sq.ft (2024)
• Vathalakundu Arumugam Nagar II Nd Street: Rs 3,300 per sq.ft (2024)
• Vathalakundu Arumugam Nagar I St Street: Rs 3,300 per sq.ft (2024)
• Vathalakundu Arumugam Nagar IV Th Street: 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 III Rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to 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 also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Vathalakundu Arumugam Nagar III Rd Street?

The Sub Registrar Office that covers Vathalakundu Arumugam Nagar III Rd 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 Arumbakkam

The guideline value serves as a benchmark for property transactions in Arumbakkam. It is used to calculate the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the fees are based on a standard valuation rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that they are prepared for the associated fees, which are calculated based on this guideline value.

Frequently asked questions

What is the current guideline value for Vathalakundu Arumugam Nagar III Rd Street?

The current guideline value for Vathalakundu Arumugam Nagar III Rd 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, marking an overall increase of 371% over the years.

What is the land classification for this street?

Vathalakundu Arumugam Nagar III Rd Street is classified as Residential Class V Type - I.

Where can I find the registration office for this area?

The registration office for Vathalakundu Arumugam Nagar III Rd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.