Guideline Value for Arumugam Lane

Arumugam Lane guideline value

The current guideline value of Arumugam Lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Arumugam Lane has changed

The guideline value for Arumugam Lane has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, followed by a decrease to Rs 804 per sq.ft in 2017. The value then rose significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision. The changes between revisions include an increase of 100% from 2007 to 2012, a decrease of 33% from 2012 to 2017, an increase of 49% from 2017 to 2023, and an increase of 8% from 2023 to 2024.

It is important to note that there are no recorded figures for Arumugam Lane in the years 2002 and 2003. Overall, the guideline value has increased by 117% from 2007 to 2024.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Arumugam Lane is below this median.

• Arunachala Eswarar Koil Street(North Mada Veethy): Rs 1,600 per sq.ft (2024)
• Arunachala Eswarar Koil Street(South Mada Veethy): Rs 1,600 per sq.ft (2024)
• Arunachala Eswarar Koil Street(West Mada Veethy): Rs 1,600 per sq.ft (2024)
• Arani Ranghan Lane: Rs 3,800 per sq.ft (2024)
• Arani Gangan Street: Rs 3,800 per sq.ft (2024)
• Ashok Nagar 1st street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Arumugam Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Arumugam Lane?

The Sub Registrar Office that covers Arumugam Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

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

Frequently asked questions

What is the current guideline value of Arumugam Lane?

The current guideline value of Arumugam Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over this period.

What are the stamp duty rates for properties in Arumugam Lane?

The stamp duty rate for properties in Arumugam Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, while Arumugam Lane's value is below this median at Rs 1,300 per sq.ft.