Guideline Value for Arumugam Street 1st Street Extension

Arumugam Street 1st Street Extension guideline value

The current guideline value of Arumugam Street 1st Street Extension is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class II Type - II.

How the guideline value of Arumugam Street 1st Street Extension has changed

The guideline value for Arumugam Street 1st Street Extension has seen significant changes over the years. Starting from Rs 200 per sq.ft in 2002, it increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value further rose to Rs 360 per sq.ft in 2007, which was a 59% increase. By 2017, the guideline value reached Rs 1,206 per sq.ft, reflecting a substantial 235% increase from the previous revision. There is no figure available for the year 2012 in the register.

In the more recent revisions, the guideline value climbed to Rs 1,800 per sq.ft in 2023, showing a 49% increase from 2017. The latest revision in 2024 set the value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 890%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, which places Arumugam Street 1st Street Extension below this median.

• Arumugam Street 2nd Street Extension: Rs 1,980 per sq.ft (2024)
• Arumugam Street (Anna Salai): Rs 1,980 per sq.ft (2024)
• Arumugam Street Extn, V.O.C Nagar: Rs 2,750 per sq.ft (2024)
• Arumugam Street, V.O.C Nagar: Rs 2,750 per sq.ft (2024)
• Arulpandian Street ( Periyar Nagar): Rs 1,980 per sq.ft (2024)
• Argeeswarar Colony Main Road: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Arumugam Street 1st Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Arumugam Street 1st Street Extension?

The Arumugam Street 1st Street Extension falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value serves as a reference point for property transactions in Pammal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

At the time of registration, the higher value between the guideline value and the actual sale price is considered for calculating the applicable charges. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Arumugam Street 1st Street Extension?

The current guideline value of Arumugam Street 1st Street Extension is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 200 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 890% across the revisions.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Arumugam Street 1st Street Extension?

The Pammal Sub Registrar Office is responsible for registrations in Arumugam Street 1st Street Extension, located on Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Arumugam Street 1st Street Extension?

The land classification for Arumugam Street 1st Street Extension is Residential Class II Type - II.