Guideline Value for ARUMUGAM STREET

Arumugam Street guideline value

The current guideline value of Arumugam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Arumugam Street has changed

The guideline value for Arumugam Street has seen several revisions over the years. The 2012 revision recorded a guideline value of Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. However, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the current 2024 revision has further raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023 and decreased by 33% from 2012 to 2017. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current guideline value for Arumugam Street.

• Arunachalam Street: Rs 2,200 per sq.ft (2024)
• Ashokar Street: Rs 2,200 per sq.ft (2024)
• Anna Salai: Rs 2,200 per sq.ft (2024)
• Avvai Street: Rs 2,200 per sq.ft (2024)
• Annamalai Street: Rs 2,200 per sq.ft (2024)
• Annaitherasa Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arumugam Street

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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for registration to Rs 1,98,000. 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.

Which Sub Registrar Office covers Arumugam Street?

The Sub Registrar Office that covers Arumugam Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Jelandianpettai. It serves as a benchmark for determining the registration fees and stamp duty payable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Arumugam Street?

The current guideline value of Arumugam Street 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then 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 for Arumugam Street?

Arumugam Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Arumugam Street?

The Sub Registrar Office for Arumugam Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Jelandianpettai?

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 guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000.