Guideline Value for Arumuga Navalar Street

Arumuga Navalar Street guideline value

The current guideline value of Arumuga Navalar Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Arumuga Navalar Street has changed

The guideline value for Arumuga Navalar Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was still Rs 4,500 per sq.ft, but this changed in the 2024 revision to Rs 4,950 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are a total of 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for the village is Rs 3,850 per sq.ft, placing Arumuga Navalar Street's 2024 figure above this median.

• Aringnar Anna Avenue: Rs 2,750 per sq.ft (2024)
• Arignar Anna Avenue Cross Street: Rs 2,750 per sq.ft (2024)
• Arcot Road: Rs 8,800 per sq.ft (2024)
• Ashtalakshmi Nagar: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Astalakshmi Nagar 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Arumuga Navalar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, making the total cost Rs 4,45,500. It is important to note that 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 Navalar Street?

The Sub Registrar Office that covers Arumuga Navalar Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Valasaravakkam. It is used to determine the stamp duty and registration fees applicable during the transaction, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value serves as a benchmark for the transaction value. This means that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher, to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Arumuga Navalar Street?

The current guideline value of Arumuga Navalar Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 4,500 per sq.ft from 2012 to 2023, and then increased to Rs 4,950 per sq.ft in 2024. Overall, there has been a 10% increase from the 2012 revision to the 2024 revision.

What are the guideline values of other streets in Valasaravakkam?

Other streets in Valasaravakkam have varying guideline values, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for the village is Rs 3,850 per sq.ft.

What are the stamp duty and registration fees for property in Arumuga Navalar Street?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500, and the registration fee would be Rs 99,000, totaling Rs 4,45,500. The duty is charged based on the higher of the guideline value or the sale price.

Which office handles property registration for Arumuga Navalar Street?

The Virugambakkam Sub Registrar Office handles property registration for Arumuga Navalar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.