Guideline Value for Arulmurugan Nagar Exten.

Arulmurugan Nagar Exten. guideline value

The current guideline value of Arulmurugan Nagar Exten. is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Mixed Type - I land.

How the guideline value of Arulmurugan Nagar Exten. has changed

In 2003, the guideline value for Arulmurugan Nagar Exten. was Rs 166 per sq.ft. This figure saw a significant increase in 2007 to Rs 600 per sq.ft, representing a change of +261%. The value continued to rise, reaching Rs 3,500 per sq.ft in 2012, which marked an increase of +483% from the previous revision. However, there are no figures for the years 2002 and 2017 in the register for this street.

From 2012 to 2023, the guideline value increased to Rs 3,750 per sq.ft, reflecting a change of +7%. The most recent revision in 2024 brought the guideline value to Rs 3,850 per sq.ft, which is an increase of +3% from the previous year. Overall, from 2003 to 2024, the guideline value has risen by +2,219%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Arulmurugan Nagar Exten.'s 2024 figure above that median.

• Arulmurugan Nagar: Rs 3,850 per sq.ft (2024)
• Arulmurugan Ramamurthi Nagar: Rs 3,300 per sq.ft (2024)
• Arunachalam Nagar: Rs 3,300 per sq.ft (2024)
• Aringar Anna Street: Rs 3,520 per sq.ft (2024)
• Arcot Jambulingam Street: Rs 3,850 per sq.ft (2024)
• Arasamara Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Arulmurugan Nagar Exten.

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. 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 Exten.?

The Sub Registrar Office that covers Arulmurugan Nagar Exten. is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It determines the minimum value at which property transactions must be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Arulmurugan Nagar Exten.?

The current guideline value of Arulmurugan Nagar Exten. is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 166 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, which is an overall increase of +2,219%.

What are the stamp duty and registration fees for a property in Arulmurugan Nagar Exten.?

For a 1,000 sq.ft property, the total guideline value is Rs 38,50,000. The stamp duty at 7% amounts to Rs 2,69,500, and the registration fee at 2% is Rs 77,000, totaling Rs 3,46,500 for these fees.

Which office handles the registration of properties in Arulmurugan Nagar Exten.?

The registration of properties in Arulmurugan Nagar Exten. is handled by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Arulmurugan Nagar Exten.?

Arulmurugan Nagar Exten. is classified as Mixed Type - I land, which indicates its suitability for various types of development and use.