Guideline Value for Arumugam Nagar

Arumugam Nagar guideline value

The current guideline value of Arumugam Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Ramanathapuram village and falls under the Peelamedu SRO. The land classification for this region is Residential Class II Type - I.

How the guideline value of Arumugam Nagar has changed

The guideline value of Arumugam Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 309 per sq.ft. This increased to Rs 340 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 507 per sq.ft in 2007, reflecting a 49% increase. In 2012, the value was recorded at Rs 1,500 per sq.ft, which was a substantial 196% increase from the previous revision. However, this figure dropped to Rs 1,005 per sq.ft in 2017, showing a decrease of 33%.

From 2017 to 2023, the guideline value increased to Rs 1,500 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, which is a 13% increase from the previous year. There are no figures available for revisions in years other than those listed.

Guideline values in Ramanathapuram

In Ramanathapuram, there are 81 streets under the Peelamedu SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 5,750 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, which is equal to the guideline value of Arumugam Nagar.

• Arumuga Nadar Street: Rs 1,700 per sq.ft (2024)
• Arunachalam Colony: Rs 1,700 per sq.ft (2024)
• Aspire: Rs 4,190 per sq.ft (2024)
• Athumedu: Rs 1,000 per sq.ft (2024)
• Aranyaka Lay Out: Rs 1,650 per sq.ft (2024)
• Ayyavannan Lane: Rs 1,000 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total charges Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18, in the Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering a property in Ramanathapuram. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property.

When a property is sold, the registration process requires the payment of stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Arumugam Nagar?

The current guideline value of Arumugam Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 309 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 450%.

What is the land classification of Arumugam Nagar?

Arumugam Nagar is classified as Residential Class II Type - I.

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

The Sub Registrar Office covering Arumugam Nagar is located at 6/1, Grd Road, Redfields, Coimbatore - 18.

How is stamp duty calculated in Arumugam Nagar?

Stamp duty in Arumugam Nagar is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.