Guideline Value for ARUMUGAM STREET

Arumugam Street guideline value

The current guideline value of Arumugam Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Commercial Class I Type - III.

How the guideline value of Arumugam Street has changed

The guideline value for Arumugam Street has seen several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012. However, it then decreased to Rs 871 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,300 per sq.ft, which remained unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 reflects a substantial increase of 767%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value in the village is Rs 1,000 per sq.ft, placing Arumugam Street's 2024 figure above that median.

• Anna Street: Rs 1,300 per sq.ft (2024)
• Anna Nagar Sellum Salai: Rs 1,300 per sq.ft (2024)
• Awaiyar Street: Rs 1,000 per sq.ft (2024)
• Awwai Street: Rs 1,000 per sq.ft (2024)
• Azhagiri Street: Rs 1,300 per sq.ft (2024)
• Baba Street: Rs 800 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arumugam Street?

The Sub Registrar Office that covers Arumugam Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is typically used to calculate the applicable fees. If the sale price of the property exceeds the guideline value, the higher amount will be considered for calculating the stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Arumugam Street?

The current guideline value of Arumugam Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with the most recent revision in 2024 maintaining the value at Rs 1,300 per sq.ft, unchanged from 2023. The value increased from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017.

What are the guideline values of other streets in Vengathur?

Other streets in Vengathur have varying guideline values. For example, Anna Street and Azhagiri Street both have a guideline value of Rs 1,300 per sq.ft, while Awaiyar Street and Awwai Street are valued at Rs 1,000 per sq.ft.

What is the stamp duty on property in Arumugam Street?

The stamp duty on property in Arumugam Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.

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

The Sub Registrar Office for Arumugam Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.