Guideline Value for At FUTURE CITY

At FUTURE CITY guideline value

The current guideline value of At FUTURE CITY, located in Sholavaram village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of At FUTURE CITY has changed

Over the years, the guideline value for At FUTURE CITY has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value to Rs 500 per sq.ft, and the most recent 2024 revision has further raised it to Rs 550 per sq.ft, marking a 10% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change has been a 10% increase. Notably, there are no figures available in the register for the years 2002, 2003, and 2007 for this street.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 515 to Rs 3,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, indicating that the guideline value for At FUTURE CITY is below this median.

• Asokar Street: Rs 550 per sq.ft (2024)
• Bajanai Koil Street: Rs 660 per sq.ft (2024)
• Arimaa Kvg Nagar: Rs 710 per sq.ft (2024)
• Anna Street: Rs 550 per sq.ft (2024)
• Balamurugan Nagar: Rs 550 per sq.ft (2024)
• Bala Murugan Nagar Annex: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in At FUTURE CITY

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, calculated at 7%, would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers At FUTURE CITY?

The Sub Registrar Office covering At FUTURE CITY is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Sholavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenues from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of At FUTURE CITY?

The current guideline value of At FUTURE CITY is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has fluctuated, starting from Rs 500 per sq.ft in 2012, decreasing to Rs 335 per sq.ft in 2017, and then increasing to Rs 550 per sq.ft in 2024.

What is the median guideline value in Sholavaram?

The median guideline value for the streets in Sholavaram is Rs 660 per sq.ft, with At FUTURE CITY's value being below this median.

What are the stamp duty and registration fees for a property in At FUTURE CITY?

For a property with a guideline value of Rs 5,50,000, the stamp duty would be Rs 38,500 at 7%, and the registration fee would be Rs 11,000 at 2%, totaling Rs 49,500.

Where is the Sub Registrar Office for At FUTURE CITY located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.