Guideline Value for ARULMIGU KONGIAMMAN NAGAR/EXT

Arulmigu Kongiamman Nagar/Ext guideline value

The current guideline value of Arulmigu Kongiamman Nagar/Ext is Rs 385 per sq.ft, effective from 1 July 2024. This area is located in Nanthiambakkam village under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Arulmigu Kongiamman Nagar/Ext has changed

Over the years, the guideline value of Arulmigu Kongiamman Nagar/Ext has seen several revisions. In 2012, the guideline value was Rs 350 per sq.ft, which remained the same until the 2017 revision when it decreased to Rs 234 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 350 per sq.ft in 2023, and further rose to Rs 385 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 50%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft, with a median value of Rs 330 per sq.ft. The guideline value for Arulmigu Kongiamman Nagar/Ext is above this median.

• Athilakshmi Nagar: Rs 330 per sq.ft (2024)
• Anna Nagar: Rs 330 per sq.ft (2024)
• Annai Rathinamani Nagar/Avenue: Rs 330 per sq.ft (2024)
• Annai Avenue: Rs 330 per sq.ft (2024)
• Balaji Nagar: Rs 330 per sq.ft (2024)
• Anand Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Arulmigu Kongiamman Nagar/Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 385 per sq.ft, the total guideline value would be Rs 3,85,000. The stamp duty at 7% would amount to Rs 26,950, and the registration fee at 2% would be Rs 7,700, making the total cost for these fees Rs 34,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arulmigu Kongiamman Nagar/Ext?

Arulmigu Kongiamman Nagar/Ext falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nanthiambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Arulmigu Kongiamman Nagar/Ext?

The current guideline value of Arulmigu Kongiamman Nagar/Ext is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, then increased to Rs 350 per sq.ft in 2023, and finally to Rs 385 per sq.ft in 2024.

What is the land classification of Arulmigu Kongiamman Nagar/Ext?

Arulmigu Kongiamman Nagar/Ext is classified as Residential Special Type - I.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 26,950.