Guideline Value for Arumugam Street

Arumugam Street guideline value

The current guideline value of Arumugam Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of Arumugam Street has changed

The guideline value for Arumugam Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 750 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 300% rise. However, the value then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for Arumugam Street in the revisions for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, which indicates that Arumugam Street's current value is below the median.

• Avvaiyar Street: Rs 3,300 per sq.ft (2024)
• Balusamy Naidu Street: Rs 4,400 per sq.ft (2024)
• Bharathiyar 1st Lane: Rs 3,300 per sq.ft (2024)
• Bharathiyar 2nd Lane: Rs 3,300 per sq.ft (2024)
• Bharathiyar2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar First Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Arumugam Street?

The Sub Registrar Office that covers Arumugam Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Palavanthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property transaction occurs.

When buying or selling a property, the guideline value is used to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Arumugam Street?

The current guideline value of Arumugam Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the stamp duty and registration fees for properties on Arumugam Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Arumugam Street?

The Alandur Sub Registrar Office handles property registrations for Arumugam Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Arumugam Street?

Arumugam Street is classified as Residential Class II Type - I, indicating its designation for residential use.