Guideline Value for FATHIMABEVI GARDEN

Fathimabevi Garden guideline value

The current guideline value of Fathimabevi Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Fathimabevi Garden has changed

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This value decreased to Rs 670 per sq.ft in the 2017 revision, representing a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Fathimabevi Garden's 2024 figure below that median.

• Gabirel Estate: Rs 1,000 per sq.ft (2024)
• Ezhil Muga Nagar: Rs 1,100 per sq.ft (2024)
• Ganapathy Garden: Rs 1,000 per sq.ft (2024)
• Ganapathy Nagar: Rs 1,800 per sq.ft (2024)
• Ganapathy Syndicate Colony: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar Co-Opearative Society(Sholinganallur Co - Op Maha Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Fathimabevi Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Fathimabevi Garden?

The Sub Registrar Office that covers Fathimabevi Garden 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 Chemmancheri

The guideline value is a critical factor during property registration in Chemmancheri. It serves as the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller should be aware of the guideline value to ensure compliance with legal requirements. It helps in determining the financial obligations involved in the transaction, including the applicable taxes and fees.

Frequently asked questions

What is the current guideline value of Fathimabevi Garden?

The current guideline value of Fathimabevi Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Fathimabevi Garden?

Fathimabevi Garden is classified as Residential Class IV Type - II.

What is the median guideline value in Chemmancheri?

The median guideline value for the streets in Chemmancheri is Rs 1,700 per sq.ft, while Fathimabevi Garden's 2024 figure is below this median.

Where is the Neelankarai Sub Registrar Office located?

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