Guideline Value for Arumugam Chetty Street

Arumugam Chetty Street guideline value

The current guideline value of Arumugam Chetty Street 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 Street has changed

The guideline value for Arumugam Chetty Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 2,760 per sq.ft. This increased to Rs 5,000 per sq.ft in the 2012 revision, but then decreased to Rs 3,350 per sq.ft in 2017. The 2023 revision marked a significant increase to Rs 5,000 per sq.ft, and the latest 2024 revision has set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 99%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

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

• Arumugam Chetty Lane: 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 Street

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. Together, the total fees would be Rs 4,95,000. It's important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arumugam Chetty Street?

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

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

The guideline value is a crucial factor in property transactions in Triplicane, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

Additionally, the guideline value serves as a reference point for both buyers and sellers to understand the valuation of properties in the area. It is essential for ensuring that transactions comply with local regulations and that the appropriate fees are collected during the registration process.

Frequently asked questions

What is the current guideline value of Arumugam Chetty Street?

The current guideline value of Arumugam Chetty Street 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, representing a total increase of 99% over the years.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations in this area?

The Triplicane Sub Registrar Office handles property registrations for Arumugam Chetty Street, located at No.182 Bharati Salai, Royapettah, Chennai-600014.

What is the land classification of Arumugam Chetty Street?

Arumugam Chetty Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.