Guideline Value for Arumuga Nagar 2nd Cross Street

Arumuga Nagar 2nd Cross Street guideline value

The current guideline value of Arumuga Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Arumuga Nagar 2nd Cross Street has changed

The guideline value for Arumuga Nagar 2nd Cross Street has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in the 2023 revision, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, indicating that the guideline value for Arumuga Nagar 2nd Cross Street is below this median.

• Arumuga Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Arumuga Nagar 2nd street: Rs 2,200 per sq.ft (2024)
• Arumuga Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Arumugam Street Kanmalar Pon Nagar: Rs 2,750 per sq.ft (2024)
• Arumugam Street: Rs 2,200 per sq.ft (2024)
• Arumugam Nagar Main Road 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arumuga Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total fees would be Rs 1,98,000. Please 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 Arumuga Nagar 2nd Cross Street?

The Sub Registrar Office that covers Arumuga Nagar 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and compliance with the legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Arumuga Nagar 2nd Cross Street?

The current guideline value of Arumuga Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64%.

What is the stamp duty for property in Arumuga Nagar 2nd Cross Street?

The stamp duty for property in Arumuga Nagar 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office covers Arumuga Nagar 2nd Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the guideline values of other streets in Madipakkam-1?

Other streets in Madipakkam-1 have varying guideline values, with rates ranging from Rs 2,200 to Rs 2,750 per sq.ft for the year 2024.