Guideline Value for ARUMUGAM PILLAI STREET

Arumugam Pillai Street guideline value

The current guideline value of Arumugam Pillai Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Arumugam Pillai Street has changed

Since the 2002 revision, the guideline value for Arumugam Pillai Street has seen significant changes. The value started at Rs 435 per sq.ft in 2002 and increased to Rs 477 per sq.ft in 2003, marking a 10% rise. By 2007, the value jumped to Rs 550 per sq.ft, reflecting a 15% increase. The 2012 revision recorded a value of Rs 2,500 per sq.ft, which was a substantial increase of 355% from the previous figure. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017, a decline of 33%.

In the subsequent revisions, the value rose to Rs 2,500 per sq.ft in 2023, representing a 49% increase from 2017. The latest revision in 2024 set the guideline value at Rs 2,700 per sq.ft, an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 521%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which means the guideline value of Arumugam Pillai Street is equal to this median.

• Arunasalam Street: Rs 2,200 per sq.ft (2024)
• Arunthathipuram: Rs 2,200 per sq.ft (2024)
• Arignar Anna Nagar: Rs 2,700 per sq.ft (2024)
• Appu Maistry Street: Rs 3,800 per sq.ft (2024)
• Asiriar Street: Rs 5,400 per sq.ft (2024)
• Asiriyar Colony Maraimalai Adigal Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arumugam Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Arumugam Pillai Street?

The Sub Registrar Office that covers Arumugam Pillai Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Perambur. It is used to determine the stamp duty and registration fees that buyers and sellers must pay. When a property is sold, the higher of the guideline value or the sale price is considered for calculating these fees.

Understanding the guideline value is essential for anyone looking to buy or sell property in Perambur, as it ensures compliance with local regulations and helps in accurately estimating the costs associated with the transaction.

Frequently asked questions

What is the current guideline value of Arumugam Pillai Street?

The current guideline value of Arumugam Pillai Street is Rs 2,700 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 435 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 521% over the years.

What is the registration fee for property in Arumugam Pillai Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 27,00,000, the registration fee would be Rs 54,000.

Where is the Sub Registrar Office for Arumugam Pillai Street located?

The Sub Registrar Office for Arumugam Pillai Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Perambur?

Stamp duty is charged at 7% on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are paid during the registration process.