Guideline Value for Arumuga Nagar

Arumuga Nagar guideline value

The current guideline value of Arumuga Nagar, located in Velachery village under the Velacheri SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of Arumuga Nagar has changed

The guideline value of Arumuga Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 133% rise. However, in 2017, the value dropped to Rs 2,345 per sq.ft, reflecting a decrease of 33%. The value then rose sharply to Rs 3,500 per sq.ft in 2023, and further increased to Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 157%. The changes between the revisions are as follows: from 2017 to 2023, the increase was 49%, and from 2012 to 2017, there was a decrease of 33%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Arumuga Nagar is below this median.

• Aringar Anna Street: Rs 3,850 per sq.ft (2024)
• Appasamy nagar: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 10th street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 11th street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 12th street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Arumuga Nagar

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

Which Sub Registrar Office covers Arumuga Nagar?

The Sub Registrar Office that covers Arumuga Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. The guideline value is established by the Registration Department and is regularly revised to reflect market conditions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Arumuga Nagar?

The current guideline value of Arumuga Nagar 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 changed significantly from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, showing an overall increase of 157% over this period.

What is the land classification of Arumuga Nagar?

Arumuga Nagar is classified as Residential Class II Type - III, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Arumuga Nagar?

The Sub Registrar Office for Arumuga Nagar is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty and registration fees for a property in Arumuga Nagar?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value.