Guideline Value for Arulmurugan Ramamoorthy Nagar

Arulmurugan Ramamoorthy Nagar guideline value

The current guideline value of Arulmurugan Ramamoorthy Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024. This area is located in Nemilicherry village and falls under the Pallavaram SRO. The land classification is Residential Class I Type - I.

How the guideline value of Arulmurugan Ramamoorthy Nagar has changed

The guideline value for Arulmurugan Ramamoorthy Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 650 per sq.ft. This increased significantly to Rs 2,200 per sq.ft in 2012, marking a 238% rise. However, it decreased to Rs 1,474 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 2,200 per sq.ft in 2023, followed by a further increase to Rs 2,420 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 272%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. The guideline value for Arulmurugan Ramamoorthy Nagar is above this median.

• Arul Murugan Ramamoorthi 2nd Street: Rs 2,160 per sq.ft (2024)
• Arulmurugan Nandavanam Nagar: Rs 2,420 per sq.ft (2024)
• Asokan Street: Rs 2,160 per sq.ft (2024)
• Annamalai Street: Rs 2,420 per sq.ft (2024)
• Annai Therasa Street: Rs 2,160 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Arulmurugan Ramamoorthy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, leading to a total of Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Arulmurugan Ramamoorthy Nagar?

The Sub Registrar Office covering Arulmurugan Ramamoorthy Nagar 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 Nemilicherry

The guideline value is a crucial factor during the registration of property transactions in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Arulmurugan Ramamoorthy Nagar?

The current guideline value of Arulmurugan Ramamoorthy Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 650 per sq.ft in 2007 to Rs 2,420 per sq.ft in 2024, an overall increase of 272%.

What is the median guideline value for streets in Nemilicherry?

The median guideline value for streets in Nemilicherry is Rs 2,160 per sq.ft as of 2024.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Arulmurugan Ramamoorthy Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.