Guideline Value for Arul Murugan Nandavanam Nagar

Arul Murugan Nandavanam Nagar guideline value

The current guideline value of Arul Murugan Nandavanam Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Arul Murugan Nandavanam Nagar has changed

The guideline value for Arul Murugan Nandavanam Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 111 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a growth of 441%. The value then rose to Rs 2,500 per sq.ft in 2012, reflecting an increase of 317%. However, it decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 2,500 per sq.ft in 2023, and most recently, it has risen to Rs 2,750 per sq.ft in 2024, a change of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 2,377%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, which is equal to the current figure for Arul Murugan Nandavanam Nagar.

• Arunodhayam Nagar: Rs 2,750 per sq.ft (2024)
• ANNA Street: Rs 3,300 per sq.ft (2024)
• Avia Enclave(Balakrishnan Street): Rs 2,750 per sq.ft (2024)
• Avvai Nagar: Rs 3,850 per sq.ft (2024)
• Avviyar Street: Rs 2,750 per sq.ft (2024)
• Baharthiyar Street: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Arul Murugan Nandavanam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Arul Murugan Nandavanam Nagar?

The Sub Registrar Office that covers Arul Murugan Nandavanam Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO online for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanmangalam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. It is essential for buyers and sellers to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value for Arul Murugan Nandavanam Nagar?

The current guideline value for Arul Murugan Nandavanam Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 111 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2,377% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations in Arul Murugan Nandavanam Nagar?

The Pallavaram Sub Registrar Office handles property registrations for Arul Murugan Nandavanam Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the significance of the guideline value?

The guideline value is used to determine the minimum price at which a property can be registered and is essential for calculating stamp duty and registration fees during property transactions.