Guideline Value for ARUMUGA PATTI FIRST STREET

Arumuga Patti First Street guideline value

The current guideline value of Arumuga Patti First Street is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Arumuga Patti First Street has changed

The guideline value for Arumuga Patti First Street has seen several revisions over the years. In 2007, the guideline value was Rs 60 per sq.ft. This increased significantly to Rs 750 per sq.ft in 2012, marking a change of +1150%. However, it then decreased to Rs 502 per sq.ft in 2017, which was a reduction of -33%. The value remained at Rs 750 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

It is important to note that the register has no figures for this street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by +1150%.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median value is Rs 750 per sq.ft, which is equal to the current guideline value of Arumuga Patti First Street.

• Arumuga Patti Ganaka Sabbi Street: Rs 750 per sq.ft (2024)
• Arumuga Patti Gangadharar Street: Rs 750 per sq.ft (2024)
• Arumuga Patti Govindapilli Street: Rs 750 per sq.ft (2024)
• Arumuga Patti Karunaneethi Street: Rs 750 per sq.ft (2024)
• Arumuga Patti K.M. Rajagopal Street: Rs 750 per sq.ft (2024)
• Arumuga Patti Neduvchezhian Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Arumuga Patti First Street

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total cost for these fees to Rs 67,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arumuga Patti First Street?

The Sub Registrar Office covering Arumuga Patti First Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Walajabad. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and tax purposes. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Arumuga Patti First Street?

The current guideline value of Arumuga Patti First Street is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, then decreased to Rs 502 per sq.ft in 2017, and remained at Rs 750 per sq.ft in both 2023 and 2024.

What is the land classification for Arumuga Patti First Street?

Arumuga Patti First Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Arumuga Patti First Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the 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 example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 7,50,000, leading to a stamp duty of Rs 52,500.