Guideline Value for FCI Nagar I to V

FCI Nagar I to V guideline value

The current guideline value for FCI Nagar I to V is Rs 2,640 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of FCI Nagar I to V has changed

The guideline value for FCI Nagar I to V has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,608 per sq.ft. This increased to Rs 2,400 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,640 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing FCI Nagar I to V above this median.

• FCI Nagar: Rs 2,640 per sq.ft (2024)
• Ethirasan Street: Rs 1,650 per sq.ft (2024)
• Ganapathy Road: Rs 2,640 per sq.ft (2024)
• Gandhi Nagar: Rs 3,960 per sq.ft (2024)
• Erikkarai Theru: Rs 1,650 per sq.ft (2024)
• Gandhi Nagar Extension: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in FCI Nagar I to V

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, while the registration fee at 2% would be Rs 52,800, bringing the total cost together to Rs 2,37,600. 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 FCI Nagar I to V?

The Sub Registrar Office that covers FCI Nagar I to V is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Perungalathur. It is used to determine the stamp duty and registration fees applicable on the property transaction, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two is used to calculate the stamp duty and registration fees, which must be paid at the time of registration.

Frequently asked questions

What is the current guideline value for FCI Nagar I to V?

The current guideline value for FCI Nagar I to V is Rs 2,640 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,608 per sq.ft to Rs 2,640 per sq.ft in 2024, reflecting an overall increase of 64%.

What is the stamp duty rate for property transactions in FCI Nagar I to V?

The stamp duty for property transactions in FCI Nagar I to V is charged at a rate of 7% on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for FCI Nagar I to V located?

The Padappai Sub Registrar Office, which covers FCI Nagar I to V, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value for streets in Perungalathur?

The median guideline value for streets in Perungalathur is Rs 2,310 per sq.ft, with FCI Nagar I to V being above this median at Rs 2,640 per sq.ft.