Guideline Value for Arumugam Nagar

Arumugam Nagar guideline value

The current guideline value of Arumugam Nagar is Rs 830 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Arumugam Nagar has changed

Over the years, the guideline value for Arumugam Nagar has seen significant changes. The 2017 revision recorded a guideline value of Rs 502 per sq.ft, which increased to Rs 750 per sq.ft in the 2023 revision, marking a rise of 49%. The latest revision in 2024 shows a further increase to Rs 830 per sq.ft, representing an 11% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value among these streets is Rs 830 per sq.ft, which is equal to the current guideline value of Arumugam Nagar.

• Asha Nagar: Rs 3,300 per sq.ft (2024)
• Auric Homes: Rs 990 per sq.ft (2024)
• Anna Nagar: Rs 660 per sq.ft (2024)
• Bajanai Koil Street: Rs 440 per sq.ft (2024)
• Annai Arul Nagar: Rs 660 per sq.ft (2024)
• Anitha Nagar: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Arumugam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 830 per sq.ft, the guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, totaling Rs 74,700. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Arumugam Nagar?

The Sub Registrar Office that covers Arumugam Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padappai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Arumugam Nagar?

The current guideline value of Arumugam Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 65% from Rs 502 per sq.ft to Rs 830 per sq.ft in 2024. The most recent change was an 11% increase from Rs 750 per sq.ft in 2023.

What is the land classification for Arumugam Nagar?

Arumugam Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Arumugam Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,30,000, the stamp duty would be Rs 58,100 at a rate of 7%.