Guideline Value for Arumugam Cross street

Arumugam Cross street guideline value

The current guideline value of Arumugam Cross street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Arumugam Cross street has changed

Over the years, the guideline value for Arumugam Cross street has seen significant changes. The 2017 revision recorded a guideline value of Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

The overall change from the 2017 revision to the 2024 revision is a substantial 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Arumugam Cross street is below this median.

• Arumugam Nagar: Rs 2,200 per sq.ft (2024)
• Arumugam Nagar (Govindaswamy Nagar Extension): Rs 2,200 per sq.ft (2024)
• Arumugam Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Arumugam Nagar Main Road 1st Street: Rs 2,200 per sq.ft (2024)
• Arumugam Nagar Main Road 2nd Street: Rs 2,200 per sq.ft (2024)
• Arumugam Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Arumugam Cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Arumugam Cross street?

The Sub Registrar Office that covers Arumugam Cross street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Arumugam Cross street?

The current guideline value of Arumugam Cross street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024. This reflects a 64% overall increase over these years.

What is the land classification of Arumugam Cross street?

Arumugam Cross street is classified as Residential Class II Type - I. This classification affects the guideline value and its application in property transactions.

What are the stamp duty and registration fees for property in Arumugam Cross street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would amount to Rs 1,98,000.

Which office handles registrations for Arumugam Cross street?

The Velacheri Sub Registrar Office handles registrations for Arumugam Cross street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.