Guideline Value for Arul Murugan Nagar

Arul Murugan Nagar guideline value

The current guideline value of Arul Murugan Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Pazhanthandalam village under the Padappai SRO, classified as Residential Special Type - II.

How the guideline value of Arul Murugan Nagar has changed

The guideline value for Arul Murugan Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 700 per sq.ft, and the latest 2024 revision has raised it further to Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Pazhanthandalam

In Pazhanthandalam, there are 57 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,980 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Arul Murugan Nagar's 2024 figure below that median.

• Ambal Nagar: Rs 1,100 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 770 per sq.ft (2024)
• Doss Avenue: Rs 1,100 per sq.ft (2024)
• Green Bay Layout: Rs 770 per sq.ft (2024)
• G.T.Enclave: Rs 1,100 per sq.ft (2024)
• Guru Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Murugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arul Murugan Nagar?

The Sub Registrar Office that covers Arul Murugan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Pazhanthandalam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duties and registration fees based on this value.

When buying or selling property, it is essential to refer to the current guideline value, as it directly influences the financial obligations associated with the transaction. Both buyers and sellers should be aware of these values to ensure compliance with local regulations and to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Arul Murugan Nagar?

The current guideline value of Arul Murugan Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 700 per sq.ft in 2023 to Rs 770 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What are the stamp duty and registration fees for property in Arul Murugan Nagar?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, these fees total Rs 69,300 based on the current guideline value.

Which office handles property registrations in Arul Murugan Nagar?

The Padappai Sub Registrar Office handles property registrations in Arul Murugan Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the range of guideline values in Pazhanthandalam?

The guideline values in Pazhanthandalam range from Rs 440 to Rs 1,980 per sq.ft, with a median value of Rs 1,100 per sq.ft. Arul Murugan Nagar's current value is below this median.