Guideline Value for FATHIMA NAGAR EXTN

Fathima Nagar Extn guideline value

The current guideline value of Fathima Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Nemilicherry village, under the Pallavaram SRO, and is classified as Residential Class I Type - III.

How the guideline value of Fathima Nagar Extn has changed

Over the years, the guideline value for Fathima Nagar Extn has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which remained unchanged through the 2024 revision. The 2017 revision saw a decrease to Rs 1,474 per sq.ft, but this was followed by a significant increase to Rs 2,000 per sq.ft in the 2023 revision, and then a further increase of 10% to the current rate of Rs 2,200 per sq.ft in 2024.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 36%. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained the same at Rs 2,200 per sq.ft.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. The guideline value for Fathima Nagar Extn is above this median.

• Farthima Nagar: Rs 2,200 per sq.ft (2024)
• English Electric Nagar: Rs 3,300 per sq.ft (2024)
• Gandhi Street: Rs 2,160 per sq.ft (2024)
• Durikannu Salai: Rs 2,200 per sq.ft (2024)
• Duraisamy Street/Nagar: Rs 2,160 per sq.ft (2024)
• Durairagubathi Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Fathima Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 more details.

Which Sub Registrar Office covers Fathima Nagar Extn?

The Fathima Nagar Extn area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Nemilicherry, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the Registration Department and reflects the minimum value at which properties in the area are assessed for tax purposes.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Fathima Nagar Extn?

The current guideline value of Fathima Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 2,200 per sq.ft in 2024. It was Rs 2,000 per sq.ft in 2023, Rs 1,474 per sq.ft in 2017, and Rs 2,200 per sq.ft in 2012.

What is the land classification of Fathima Nagar Extn?

Fathima Nagar Extn is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Fathima Nagar Extn?

The Pallavaram Sub Registrar Office covers Fathima Nagar Extn and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated in Fathima Nagar Extn?

Stamp duty in Fathima Nagar Extn is calculated based on the guideline value or the sale price, whichever is higher. The current stamp duty rate is 7%, and there is also a registration fee of 2%.