Guideline Value for Arumugam Street 2nd Street Extension

Arumugam Street 2nd Street Extension guideline value

The current guideline value of Arumugam Street 2nd Street Extension is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Arumugam Street 2nd Street Extension has changed

The guideline value for Arumugam Street 2nd Street Extension has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 360 per sq.ft, which increased to Rs 1,206 per sq.ft in the 2017 revision, marking a 235% rise. The 2023 revision set the value at Rs 1,800 per sq.ft, reflecting a 49% increase from the previous revision. The current revision in 2024 shows a further increase to Rs 1,980 per sq.ft, which is a 10% rise from 2023.

There are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value of Arumugam Street 2nd Street Extension is below this median.

• Arumugam Street 1st 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 2nd 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. Please 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 Street 2nd Street Extension?

The Sub Registrar Office that covers Arumugam Street 2nd Street Extension is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale.

When a property is bought or sold, the registration office uses the guideline value to calculate the applicable charges. Buyers and sellers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Arumugam Street 2nd Street Extension?

The current guideline value of Arumugam Street 2nd Street Extension is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with an increase from Rs 360 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, marking an overall rise of 450%.

What are the other guideline values in Pammal?

In Pammal, the guideline values range from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Arumugam Street 2nd Street Extension's value is below this median.

What fees are applicable when registering property?

When registering property, the stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2% of the guideline value.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Pammal Sub Registrar Office located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.