Guideline Value for Arumugam Chetty Lane

Arumugam Chetty Lane guideline value

The current guideline value of Arumugam Chetty Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class II Type - I.

How the guideline value of Arumugam Chetty Lane has changed

The guideline value for Arumugam Chetty Lane has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 2,760 per sq.ft. This increased to Rs 5,000 per sq.ft in 2012, marking an 81% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value saw a significant increase to Rs 5,000 per sq.ft in 2023, followed by a further rise to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 99%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, which means that the guideline value of Arumugam Chetty Lane is below this median.

• Arumugam Chetty Street: Rs 5,500 per sq.ft (2024)
• Arumuga Achari Street: Rs 6,600 per sq.ft (2024)
• Arumuga Naicker Street: Rs 5,500 per sq.ft (2024)
• Arumugappa Street: Rs 5,500 per sq.ft (2024)
• Arumuga Vaidhiyar Street: Rs 6,600 per sq.ft (2024)
• Arunachala Achari Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Arumugam Chetty Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arumugam Chetty Lane?

The Sub Registrar Office that covers Arumugam Chetty Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

When buying or selling property in Triplicane, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property transactions. Ensuring that the transaction reflects the guideline value can prevent any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Arumugam Chetty Lane?

The current guideline value of Arumugam Chetty Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,760 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 99% over this period.

What is the land classification for Arumugam Chetty Lane?

Arumugam Chetty Lane is classified as Residential Class II Type - I.

Where can I find the Triplicane Sub Registrar Office?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Arumugam Chetty Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, on a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.