Guideline Value for FAB CITY

Fab City guideline value

The current guideline value of Fab City, located in Pethikuppam village under the Gummidipoondi SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Fab City has changed

The guideline value for Fab City has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 800 per sq.ft, which was then increased by 10% to Rs 880 per sq.ft in the 2024 revision.

This increase reflects a notable change in the guideline value over the past year. The 2024 figure of Rs 880 per sq.ft is now above the median guideline value of Rs 710 per sq.ft for other streets in Pethikuppam.

Guideline values in Pethikuppam

Pethikuppam village has three streets under the Gummidipoondi SRO that carry a 2024 guideline value. The current guideline value for Fab City is higher than the median value of Rs 710 per sq.ft. The following are the guideline values for other streets in Pethikuppam:

• Jayaraman Nagar: Rs 220 per sq.ft (2024)
• Senthamil Nagar: Rs 710 per sq.ft (2024)

Stamp duty and registration fee for property in Fab City

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty is charged at 7%, resulting in Rs 61,600, while the registration fee at 2% amounts to Rs 17,600. Together, the total cost for these fees would be Rs 79,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Fab City?

The Sub Registrar Office that covers Fab City is the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pethikuppam. It helps determine the applicable stamp duty and registration fees based on the property's value.

When a property is registered, the guideline value is used to calculate the fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Fab City?

The current guideline value of Fab City is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024, marking a 10% rise.

What is the land classification of Fab City?

Fab City is classified as Residential Special Type - II.

What are the guideline values of other streets in Pethikuppam?

In Pethikuppam, other streets have the following guideline values: Jayaraman Nagar is Rs 220 per sq.ft, and Senthamil Nagar is Rs 710 per sq.ft for 2024.

Where can I find the Gummidipoondi Sub Registrar Office?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.