Guideline Value for ARUMUGAM AVENUE

Arumugam Avenue guideline value

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

How the guideline value of Arumugam Avenue has changed

The guideline value for Arumugam Avenue has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,340 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 2,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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. The median value for these streets is Rs 3,300 per sq.ft, placing Arumugam Avenue's 2024 figure below that median.

• Arulmigu Pamban Baba Nagar: 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 Arumugam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees total Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Arumugam Avenue?

The Sub Registrar Office that covers Arumugam Avenue 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 details.

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

The guideline value plays a crucial role during property transactions in Okkiyamthuraipakkam. It is the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value can also influence the sale price, as it provides a reference point for both buyers and sellers. However, it is essential to remember that the final sale price may vary based on market conditions and negotiations between the parties involved.

Frequently asked questions

What is the current guideline value of Arumugam Avenue?

The current guideline value of Arumugam Avenue is Rs 2,200 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Arumugam Avenue?

Arumugam Avenue is classified as Residential Class II Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Arumugam Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 22,00,000. The stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Arumugam Avenue?

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