Guideline Value for Arumugappa Street

Arumugappa Street guideline value

The current guideline value of Arumugappa Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Arumugappa Street has changed

The guideline value of Arumugappa Street has seen several revisions over the years. In 2002, the value was Rs 484 per sq.ft, which increased to Rs 531 per sq.ft in 2003, marking a 10% rise. The value further increased significantly to Rs 945 per sq.ft in 2007, reflecting a 78% change. In 2012, it dropped to Rs 5,000 per sq.ft, a decrease of 33%. The value then saw an increase to Rs 3,350 per sq.ft in 2017, which was a 49% rise from the previous revision.

In 2023, the guideline value was Rs 5,000 per sq.ft, and it increased to Rs 5,500 per sq.ft in 2024, representing a 10% change. Overall, from 2002 to 2024, the guideline value has increased by 1,036%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Arumugappa Street's 2024 figure below that median.

• Arumuga Vaidhiyar Street: Rs 6,600 per sq.ft (2024)
• Arunachala Achari Street: Rs 7,700 per sq.ft (2024)
• Arumuga Naicker Street: Rs 5,500 per sq.ft (2024)
• Arumugam Chetty Street: Rs 5,500 per sq.ft (2024)
• Arumugam Chetty Lane: Rs 5,500 per sq.ft (2024)
• Arumuga Achari Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Arumugappa Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 details.

Which Sub Registrar Office covers Arumugappa Street?

The Sub Registrar Office covering Arumugappa Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale or purchase.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately in the official register. This helps maintain transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Arumugappa Street?

The current guideline value of Arumugappa Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 484 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1,036% over the years.

What is the land classification for Arumugappa Street?

Arumugappa Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Arumugappa Street?

The Sub Registrar Office for Arumugappa Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for property in Arumugappa Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.