Guideline Value for Arumugam Nagar

Arumugam Nagar guideline value

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

How the guideline value of Arumugam Nagar has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. It increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. 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 1823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this area is Rs 2,750 per sq.ft, and the guideline value for Arumugam Nagar is below this median.

• Arumugam Cross street: 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 Nagar

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, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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 for property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees, which are mandatory for legal property transactions.

Frequently asked questions

What is the current guideline value of Arumugam Nagar?

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 64% over this period.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1 that share the same guideline value of Rs 2,200 per sq.ft include Arumugam Cross street, Arumugam Nagar (Govindaswamy Nagar Extension), Arumugam Nagar Main Road, Arumugam Nagar Main Road 1st Street, Arumugam Nagar Main Road 2nd Street, and Arumugam Street.

What is the stamp duty rate for properties in Arumugam Nagar?

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

Where can I find the Sub Registrar Office for Arumugam Nagar?

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