Guideline Value for Arumuga Naicker Thottam Residents

Arumuga Naicker Thottam Residents guideline value

The current guideline value for Arumuga Naicker Thottam Residents is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Selavoyal village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Arumuga Naicker Thottam Residents has changed

The guideline value for Arumuga Naicker Thottam Residents has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then changed to Rs 1,206 per sq.ft in 2017, marking a decrease of 20%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, reflecting a growth of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,900 per sq.ft, representing a 6% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

Within Selavoyal village, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Arumuga Naicker Thottam Residents is below this median.

• Arasu Avenue: Rs 1,900 per sq.ft (2024)
• Anna Thottam / Anna Garden: Rs 2,200 per sq.ft (2024)
• Annai Therasa Street: Rs 1,900 per sq.ft (2024)
• Anna Indira Nagar: Rs 1,900 per sq.ft (2024)
• Annai Avenue 3rd Street: Rs 1,900 per sq.ft (2024)
• Annai Avenue 2nd Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Arumuga Naicker Thottam Residents

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arumuga Naicker Thottam Residents?

The Sub Registrar Office that covers Arumuga Naicker Thottam Residents is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Selavoyal, as it is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must take the guideline value into account when finalizing the sale price of the property.

When a property is sold, the stamp duty is 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.

Frequently asked questions

What is the current guideline value for Arumuga Naicker Thottam Residents?

The current guideline value for Arumuga Naicker Thottam Residents is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and is currently Rs 1,900 per sq.ft in 2024.

What is the land classification for Arumuga Naicker Thottam Residents?

Arumuga Naicker Thottam Residents is classified as Residential Class III Type - I.

What are the other streets in Selavoyal with their guideline values?

Other streets in Selavoyal include Arasu Avenue and Annai Therasa Street, both at Rs 1,900 per sq.ft, and Anna Thottam / Anna Garden at Rs 2,200 per sq.ft.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.