Guideline Value for ARULMIGU PAMBAN BABA NAGAR

Arulmigu Pamban Baba Nagar guideline value

The current guideline value of Arulmigu Pamban Baba Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Arulmigu Pamban Baba Nagar has changed

The guideline value for Arulmigu Pamban Baba Nagar has undergone several revisions over the years. The earliest recorded figure is from 2003, with a guideline value of Rs 111 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2007, marking a 350% rise. The value then jumped to Rs 2,000 per sq.ft in 2012, which was a substantial increase of 300%. However, it decreased to Rs 1,340 per sq.ft in 2017, reflecting a decline of 33%. The value saw a considerable increase again, reaching Rs 2,000 per sq.ft in 2023, and finally, it stands at Rs 2,200 per sq.ft in 2024, representing a 10% increase from the previous year.

It is important to note that there is no recorded figure for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by an impressive 1882%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft as of 2024. The median guideline value for these streets is Rs 3,300 per sq.ft, placing the current value of Arulmigu Pamban Baba Nagar below this median.

• Arumugam Avenue: Rs 2,200 per sq.ft (2024)
• Arihant Kudiyiruppu Salai: Rs 5,500 per sq.ft (2024)
• Arihant Avenue: Rs 5,500 per sq.ft (2024)
• Ariatthamman Koil Street: Rs 3,300 per sq.ft (2024)
• Anna Street: Rs 3,900 per sq.ft (2024)
• Azhakandeshwarar 1 St Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arulmigu Pamban Baba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arulmigu Pamban Baba Nagar?

The Sub Registrar Office that covers Arulmigu Pamban Baba Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are calculated based on the higher value between the guideline value and the actual sale price of the property.

When a property is registered, the guideline value ensures that the government receives appropriate revenue from property transactions. It is essential for both buyers and sellers to understand that the guideline value may differ from the market price, and they should plan their finances accordingly.

Frequently asked questions

What is the current guideline value of Arulmigu Pamban Baba Nagar?

The current guideline value of Arulmigu Pamban Baba Nagar is Rs 2,200 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 111 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1882%.

What is the stamp duty rate for properties in Arulmigu Pamban Baba Nagar?

The stamp duty rate for properties in Arulmigu Pamban Baba Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value for streets in Okkiyamthuraipakkam?

The median guideline value for streets in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with Arulmigu Pamban Baba Nagar's value being below this median.