Guideline Value for Arumuga Naicker Thottam

Arumuga Naicker Thottam guideline value

The current guideline value of Arumuga Naicker Thottam is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village and falls under the Madhavaram SRO with a land classification of Residential Class I Type - I.

How the guideline value of Arumuga Naicker Thottam has changed

The guideline value for Arumuga Naicker Thottam has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase from Rs 2,500 per sq.ft in 2023, marking an 8% rise. Prior to that, in 2017, the guideline value was Rs 1,675 per sq.ft, indicating a significant increase of 49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 61%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The revisions recorded are from 2017, 2023, and the current value in 2024.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for the village is Rs 2,700 per sq.ft, which is equal to the current value of Arumuga Naicker Thottam.

• Appar Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Anna Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Avayyar Street: Rs 2,200 per sq.ft (2024)
• Anna Salai: Rs 2,700 per sq.ft (2024)
• Anna Road in Annai Sathya Nagar Main Street: Rs 2,700 per sq.ft (2024)
• Annai Sathya Nagar Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arumuga Naicker Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arumuga Naicker Thottam?

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

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

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, buyers must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Arumuga Naicker Thottam?

The current guideline value of Arumuga Naicker Thottam is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in 2024. This represents an overall increase of 61% from 2017 to 2024.

What are the stamp duty rates for properties in Arumuga Naicker Thottam?

The stamp duty for properties in Arumuga Naicker Thottam is charged at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.

Which office handles property registrations for Arumuga Naicker Thottam?

The Madhavaram Sub Registrar Office handles property registrations for Arumuga Naicker Thottam. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Arumuga Naicker Thottam?

Arumuga Naicker Thottam is classified as Residential Class I Type - I, indicating its suitability for residential purposes.