Guideline Value for Arumugam Street

Arumugam Street guideline value

The current guideline value of Arumugam Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Arumugam Street has changed

In the 2017 revision, the guideline value for Arumugam Street was Rs 670 per sq.ft. This figure increased to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for this street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Pozhichalur

In Pozhichalur village, there are 299 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value in this area is Rs 1,320 per sq.ft, which means that Arumugam Street's 2024 figure is below that median.

• Arulmurugan Nagar Ist Street: Rs 1,320 per sq.ft (2024)
• Arulmurugan Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Arulmurgan Nagar: Rs 1,320 per sq.ft (2024)
• Arokya Madha Street: Rs 1,100 per sq.ft (2024)
• Anna Street: Rs 1,650 per sq.ft (2024)
• Anna Nedun Salai: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Arumugam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arumugam Street?

The Sub Registrar Office that covers Arumugam Street 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 Pozhichalur

The guideline value plays a crucial role in the registration process of property transactions in Pozhichalur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the 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 area.

Frequently asked questions

What is the current guideline value of Arumugam Street?

The current guideline value of Arumugam Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023, and then to Rs 1,100 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Arumugam Street?

Arumugam Street is classified as Residential Class II Type - I under the guideline value register.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the 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. Additionally, a registration fee of 2% is applicable, making it essential to consider both when buying or selling property.