Guideline Value for Arumugam Nagar

Arumugam Nagar guideline value

The current guideline value of Arumugam Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is located in Porur village and falls under the Kunrathur SRO. The land classification for this locality is Residential Special Type - I.

How the guideline value of Arumugam Nagar has changed

The guideline value for Arumugam Nagar has seen several revisions over the years. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 208 per sq.ft in 2003. Following that, the value rose significantly to Rs 600 per sq.ft in 2007, and then it jumped to Rs 3,600 per sq.ft in 2012. However, there was a decrease to Rs 2,412 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,600 per sq.ft in 2023, followed by the current value of Rs 3,960 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was +11%. The value surged by +188% from 2003 to 2007. The jump from 2007 to 2012 was +500%, but this was followed by a decrease of -33% from 2012 to 2017. The value then rose by +49% from 2017 to 2023, and finally, there was a +10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +2006%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with the median value being Rs 3,960 per sq.ft. The guideline value of Arumugam Nagar matches this median.

• Arcot Road: Rs 4,950 per sq.ft (2024)
• Ashtalakshmi Nagar 1st Street: Rs 4,290 per sq.ft (2024)
• Ashtalakshmi Nagar 3rd Street: Rs 4,290 per sq.ft (2024)
• Asthtalakshmi Nagar 2nd Street: Rs 4,290 per sq.ft (2024)
• Anna Salai (Highway): Rs 4,950 per sq.ft (2024)
• Anna Salai: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Arumugam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200. Together, the total cost for these fees would be Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Arumugam Nagar?

The Sub Registrar Office that covers Arumugam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration process when buying or selling property in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the transaction is aligned with the official valuation set by the authorities. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Arumugam Nagar?

The current guideline value of Arumugam Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 188 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, showing a significant increase of +2006% over the years.

What is the land classification for Arumugam Nagar?

The land classification for Arumugam Nagar is Residential Special Type - I.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Arumugam Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 at 7%.