Guideline Value for FAIRMONT ESTATES

Fairmont Estates guideline value

The current guideline value of Fairmont Estates is Rs 2,000 per sq.ft, effective from 1 July 2024. This property is located in Parivakkam village under the Poonamallee SRO and is classified as Residential Class IV Type - I.

How the guideline value of Fairmont Estates has changed

The guideline value for Fairmont Estates has remained consistent at Rs 2,000 per sq.ft since the 2023 revision, which also recorded the same figure. Prior to that, the register has no figures for this street from the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,000 per sq.ft in 2024, reflecting no percentage change between these revisions.

Guideline values in Parivakkam

Parivakkam has a total of 31 streets under the Poonamallee SRO with a 2024 guideline value range from Rs 660 to Rs 6,750 per sq.ft. The median guideline value for these streets is Rs 1,800 per sq.ft, placing Fairmont Estates above this median.

• Garden Town: Rs 3,500 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 660 per sq.ft (2024)
• Devi Karumari Amman Nagar: Rs 660 per sq.ft (2024)
• Arulmegu Palleswarar Nagar: Rs 660 per sq.ft (2024)
• Krishna Nagar Phase I: Rs 1,800 per sq.ft (2024)
• Krishna Nagar Phase II: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Fairmont Estates

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty, calculated at 7%, would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, totaling Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Fairmont Estates?

The Sub Registrar Office covering Fairmont Estates is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Parivakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the costs associated with the transaction, based on the official valuation set by the registration department.

Frequently asked questions

What is the current guideline value for Fairmont Estates?

The current guideline value for Fairmont Estates is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Fairmont Estates has remained at Rs 2,000 per sq.ft since the 2023 revision. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Fairmont Estates?

Fairmont Estates is classified as Residential Class IV Type - I, which indicates its intended use for residential purposes.

What are the other streets in Parivakkam and their guideline values?

Other streets in Parivakkam include Garden Town at Rs 3,500 per sq.ft, Dhanalakshmi Nagar, Devi Karumari Amman Nagar, and Arulmegu Palleswarar Nagar at Rs 660 per sq.ft, and Krishna Nagar Phase I and II at Rs 1,800 per sq.ft.

How is the stamp duty calculated for Fairmont Estates?

The stamp duty for Fairmont Estates is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 1,40,000, along with a registration fee of Rs 40,000, making a total of Rs 1,80,000.