Guideline Value for Arumugam Street, V.O.C Nagar

Arumugam Street, V.O.C Nagar guideline value

The current guideline value of Arumugam Street, V.O.C Nagar is Rs 2,750 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 Commercial Class I Type - II.

How the guideline value of Arumugam Street, V.O.C Nagar has changed

The guideline value for Arumugam Street, V.O.C Nagar has seen several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 1,675 per sq.ft. This value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Pammal

In Pammal village, 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. The median value for these streets is Rs 2,090 per sq.ft, placing Arumugam Street, V.O.C Nagar above this median.

• Arumugam Street Extn, V.O.C Nagar: Rs 2,750 per sq.ft (2024)
• Arumugam Street (Anna Salai): Rs 1,980 per sq.ft (2024)
• Arumugam Street 2nd Street Extension: Rs 1,980 per sq.ft (2024)
• Arumugam Street 1st Street Extension: Rs 1,980 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, V.O.C Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration fee would be Rs 2,47,500. It is important to note that 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, V.O.C Nagar?

The Sub Registrar Office that covers Arumugam Street, V.O.C Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the 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 when registering property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value helps in assessing the transaction's legitimacy and prevents undervaluation. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Arumugam Street, V.O.C Nagar?

The current guideline value of Arumugam Street, V.O.C Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification of Arumugam Street, V.O.C Nagar?

Arumugam Street, V.O.C Nagar is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

Where can I find the registration office for Pammal?

The registration office for Pammal is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Arumugam Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.