Guideline Value for ArulMurugan Nagar

ArulMurugan Nagar guideline value

The current guideline value of ArulMurugan Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is located in Kattupakkam village and falls under the Kunrathur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of ArulMurugan Nagar has changed

The guideline value of ArulMurugan Nagar has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 120 per sq.ft. This increased significantly to Rs 350 per sq.ft in 2007, followed by a substantial rise to Rs 1,900 per sq.ft in 2012. However, this figure decreased to Rs 1,273 per sq.ft in 2017. The value then jumped to Rs 1,900 per sq.ft in 2023, before reaching the current value of Rs 2,090 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1642%. Notably, there is no recorded figure for the year 2002 for this street in the register.

Guideline values in Kattupakkam

In Kattupakkam, there are 75 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,980 to Rs 4,290 per sq.ft, with the median value being Rs 2,090 per sq.ft. The guideline value of ArulMurugan Nagar aligns with this median.

• Audco Nagar: Rs 3,520 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,090 per sq.ft (2024)
• Anandha Nagar: Rs 3,520 per sq.ft (2024)
• Amman Nagar: Rs 2,090 per sq.ft (2024)
• Amman Koil Street: Rs 2,090 per sq.ft (2024)
• Ambal Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in ArulMurugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. 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 ArulMurugan Nagar?

The Sub Registrar Office that covers ArulMurugan Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kattupakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value when executing sale agreements to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of ArulMurugan Nagar?

The current guideline value of ArulMurugan Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of 1642% over this period.

What is the stamp duty rate for property in ArulMurugan Nagar?

The stamp duty rate for property transactions in ArulMurugan Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for ArulMurugan Nagar?

The land classification for ArulMurugan Nagar is Residential Class I Type - I, indicating its designation for residential purposes.