Guideline Value for West Arasamaram Street

West Arasamaram Street guideline value

The current guideline value of West Arasamaram Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of West Arasamaram Street has changed

The guideline value for West Arasamaram Street has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 1,150 per sq.ft. This value increased significantly to Rs 4,000 per sq.ft in 2012, marking a 248% rise. However, in 2017, the value decreased to Rs 2,680 per sq.ft, which was a drop of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 283%.

Guideline values in Aminjikarai

Aminjikarai has a total of 99 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is the same as the current value for West Arasamaram Street.

• V.S. Puram: Rs 3,300 per sq.ft (2024)
• Yadhava Street: Rs 4,400 per sq.ft (2024)
• Vinai Theertha Vinayagar Street: Rs 4,400 per sq.ft (2024)
• Venkataswamy Puram Street 1 to 10: Rs 3,300 per sq.ft (2024)
• Venkatasamy Puram puram: Rs 3,300 per sq.ft (2024)
• Vellalar Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in West Arasamaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers West Arasamaram Street?

The Sub Registrar Office that covers West Arasamaram Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Aminjikarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold or purchased, the guideline value helps in assessing the fair value of the property for tax purposes. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration at the AnnaNagar SRO.

Frequently asked questions

What is the current guideline value of West Arasamaram Street?

The current guideline value of West Arasamaram Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,150 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 283%.

What are the other streets in Aminjikarai with their guideline values?

Other streets in Aminjikarai include V.S. Puram at Rs 3,300 per sq.ft, Yadhava Street at Rs 4,400 per sq.ft, and Vellalar Street at Rs 5,500 per sq.ft, among others.

What is the stamp duty on property in West Arasamaram Street?

The stamp duty on property in West Arasamaram Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for West Arasamaram Street located?

The Sub Registrar Office for West Arasamaram Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, under the AnnaNagar SRO.