Guideline Value for VATHALAKUNDU ARUMUGAM NAGAR IV TH STREET

Vathalakundu Arumugam Nagar IV Th Street guideline value

The current guideline value for Vathalakundu Arumugam Nagar IV Th 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 is classified as Residential Class V Type - I.

How the guideline value of Vathalakundu Arumugam Nagar IV Th Street has changed

Over the years, the guideline value for Vathalakundu Arumugam Nagar IV Th Street has seen several revisions. Starting from the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The value saw a dramatic rise of 329% from 2007 to 2012, and overall, the increase from 2007 to 2024 amounts to 371%. The register has no figures for the years 2002 and 2003 for this street.

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. The median value for these streets is Rs 6,000 per sq.ft, indicating that Vathalakundu Arumugam Nagar IV Th Street's current value is below the median.

• Vathalakundu Arumugam Nagar I St Street: Rs 3,300 per sq.ft (2024)
• Vathalakundu Arumugam Nagar II Nd 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 IV Th 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 cost together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vathalakundu Arumugam Nagar IV Th Street?

The Vathalakundu Arumugam Nagar IV Th Street falls under the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It serves as the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

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

Frequently asked questions

What is the current guideline value for Vathalakundu Arumugam Nagar IV Th Street?

The current guideline value for Vathalakundu Arumugam Nagar IV Th 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 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 guideline value for other streets in Arumbakkam?

Other streets in Arumbakkam under the Kodambakkam SRO have varying guideline values, with the median being Rs 6,000 per sq.ft. Vathalakundu Arumugam Nagar IV Th Street's value is below this median.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 33,00,000, the total stamp duty and registration fees would amount to Rs 2,97,000.

Where can I find the Sub Registrar Office for Vathalakundu Arumugam Nagar IV Th Street?

The Kodambakkam Sub Registrar Office covers Vathalakundu Arumugam Nagar IV Th Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.