Guideline Value for FAE NAGAR

Fae Nagar guideline value

The current guideline value of Fae Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in the Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Fae Nagar has changed

The guideline value of Fae Nagar has seen significant revisions over the years. Starting from the 2017 revision, the value was Rs 2,010 per sq.ft. It increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw a further increase to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Sholinganallur - 1

In the Sholinganallur - 1 village, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Fae Nagar's 2024 figure above that median.

• Ezhil Nagar: Rs 3,300 per sq.ft (2024)
• Ganapathy Nagar Colony: Rs 3,300 per sq.ft (2024)
• Eswaran Koil Main Street: Rs 2,200 per sq.ft (2024)
• Eswaran Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Eswaran Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Ganapathy Syndicate Colony: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Fae Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Fae Nagar?

The Fae Nagar area is covered by 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 Sholinganallur - 1

The guideline value is a crucial factor when registering property transactions in Sholinganallur - 1. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a baseline for negotiations. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Fae Nagar?

The current guideline value of Fae Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64%.

What is the registration office for Fae Nagar?

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

How is stamp duty calculated for property in Fae Nagar?

Stamp duty for property in Fae Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,31,000.

What are the other streets in Sholinganallur - 1 with similar guideline values?

Other streets in Sholinganallur - 1 with similar guideline values include Ezhil Nagar, Ganapathy Nagar Colony, and Ganapathy Syndicate Colony, all at Rs 3,300 per sq.ft in 2024.