Guideline Value for Kanmalar Pon Nagar Arumugam Street

Kanmalar Pon Nagar Arumugam Street guideline value

The current guideline value of Kanmalar Pon Nagar Arumugam Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, which falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kanmalar Pon Nagar Arumugam Street has changed

The guideline value for Kanmalar Pon Nagar Arumugam Street has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, while the most recent revision in 2024 has increased this to Rs 2,750 per sq.ft, marking a substantial increase of 64%. Notably, there are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value has risen from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024. This increase reflects the updated valuation standards set by the Registration Department.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which aligns with the guideline value of Kanmalar Pon Nagar Arumugam Street.

• Kanmalar Pon Nagar: Rs 2,750 per sq.ft (2024)
• Kanmalar Pon Nagar/Church Street: Rs 2,750 per sq.ft (2024)
• Kanmalar Pon Nagar/Daniel Street: Rs 2,750 per sq.ft (2024)
• Kanchi Kamatchi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Kanchi Kamatchi Nagar 5th Main Road: Rs 2,200 per sq.ft (2024)
• Kanchi Kamatchi Nagar 4th Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanmalar Pon Nagar Arumugam Street

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 these fees would be Rs 2,47,500. 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 on calculating fees.

Which Sub Registrar Office covers Kanmalar Pon Nagar Arumugam Street?

The Sub Registrar Office that covers Kanmalar Pon Nagar Arumugam Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as the benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process is essential for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Kanmalar Pon Nagar Arumugam Street?

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

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft, which is a change of 64%.

Are there any years without guideline values for this street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Kanmalar Pon Nagar Arumugam Street.

What are the registration fees for property transactions?

The registration fees for property transactions are calculated based on the guideline value. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000.

Which office handles property registrations for Kanmalar Pon Nagar Arumugam Street?

The Velacheri Sub Registrar Office handles property registrations for Kanmalar Pon Nagar Arumugam Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.