Guideline Value for FARM TOWNSHIP

Farm Township guideline value

The current guideline value of Farm Township in Medavakkam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Farm Township has changed

The guideline value for Farm Township has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 2,500 per sq.ft. This figure saw a decrease to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Farm Township's 2024 figure above this median.

• Farm Avenue: Rs 2,750 per sq.ft (2024)
• Friends Avenue: Rs 2,750 per sq.ft (2024)
• Ganapathy Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Ganapathy Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Gandhi 1st Cross Street: Rs 1,540 per sq.ft (2024)
• Gandhi 2nd Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Farm Township

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Farm Township?

The Sub Registrar Office covering Farm Township is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Medavakkam. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Farm Township?

The current guideline value of Farm Township is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Farm Township?

Farm Township is classified as Commercial Class I Type - III under the Chennai South Joint I SRO.

What is the median guideline value in Medavakkam?

The median guideline value in Medavakkam is Rs 2,200 per sq.ft, with Farm Township's current value being above this median.

Where is the Sub Registrar Office for Farm Township located?

The Sub Registrar Office for Farm Township is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.