Guideline Value for ARUMUGAM NAGAR

Arumugam Nagar guideline value

The current guideline value of Arumugam Nagar, located in Srinivasapuram village under the Kunrathur SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Arumugam Nagar has changed

The guideline value for Arumugam Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in the 2023 revision, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,000 per sq.ft, marking an 11% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,550 to Rs 7,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Arumugam Nagar's 2024 guideline value above this median.

• Annai Indhra Nagar: Rs 1,550 per sq.ft (2024)
• Balaji Nagar Annexe: Rs 1,550 per sq.ft (2024)
• Alliance Boungain Villea: Rs 1,550 per sq.ft (2024)
• A.D.L. Velayutham Nagar: Rs 1,550 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 2,000 per sq.ft (2024)
• Indira Nagar: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Arumugam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, making the total fees together Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on calculating these fees.

Which Sub Registrar Office covers Arumugam Nagar?

The Sub Registrar Office that covers Arumugam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Srinivasapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the associated fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Arumugam Nagar?

The current guideline value of Arumugam Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2024, reflecting a total increase of 66% over this period.

What is the land classification for Arumugam Nagar?

The land classification for Arumugam Nagar is Residential Special Type - I.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated in Arumugam Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For instance, a property valued at Rs 20,00,000 would incur a total fee of Rs 1,80,000.