Guideline Value for FACIT ASIA ROAD

Facit Asia Road guideline value

The current guideline value of Facit Asia Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road is located in Perungudi village, under the Neelankarai SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Facit Asia Road has changed

The guideline value for Facit Asia Road has seen several revisions over the years. In 2002, the value was Rs 297 per sq.ft. This increased to Rs 750 per sq.ft in 2003, marking a significant rise of 153%. The value continued to rise to Rs 1,937 per sq.ft in 2007, an increase of 158%. Following this, in 2012, the value was Rs 3,500 per sq.ft, which was a decrease of 33% from the previous revision. In 2017, the value was Rs 2,345 per sq.ft, reflecting a 49% increase from 2012. The most recent revisions show that in 2023, the value was Rs 3,500 per sq.ft, and as of 2024, it stands at Rs 3,900 per sq.ft, an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1213%. There are no figures available for the revisions in years other than those listed.

Guideline values in Perungudi

In Perungudi village, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the guideline value of Facit Asia Road above the median.

• Ganapathy Nagar: Rs 3,300 per sq.ft (2024)
• Errikkarai Street (Lake Salai): Rs 3,300 per sq.ft (2024)
• Elim Nagar Park West Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar Park South Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar Park North Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar Park East Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Facit Asia Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration would be Rs 3,51,000. Please 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 further calculations.

Which Sub Registrar Office covers Facit Asia Road?

The Sub Registrar Office that covers Facit Asia Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both parties understand the value of the property being exchanged. It is important to note that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Facit Asia Road?

The current guideline value of Facit Asia Road is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 297 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1213% over the years.

What are the other streets in Perungudi with their guideline values?

Other streets in Perungudi include Ganapathy Nagar, Errikkarai Street (Lake Salai), and several Elim Nagar Park streets, all valued at Rs 3,300 per sq.ft as of 2024.

What are the stamp duty and registration fees for properties on Facit Asia Road?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for Facit Asia Road?

The Neelankarai Sub Registrar Office handles the registration for Facit Asia Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.