Guideline Value for FCI Nagar

FCI Nagar guideline value

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

How the guideline value of FCI Nagar has changed

The guideline value for FCI Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,608 per sq.ft, which increased to Rs 2,400 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 raised the guideline value further to Rs 2,640 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values 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, and FCI Nagar's current value is above this median.

• FCI Nagar I to V: 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

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, and the registration fee at 2% would be Rs 52,800, bringing the total fees together to Rs 2,37,600. 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 FCI Nagar?

The Sub Registrar Office that covers FCI Nagar 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 in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these fees are calculated based on a standardized value.

When a property transaction occurs, the guideline value is used to assess the minimum value for taxation purposes. This means that regardless of the actual sale price, the guideline value will be considered to ensure proper compliance with registration regulations.

Frequently asked questions

What is the current guideline value of FCI Nagar?

The current guideline value of FCI Nagar 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, which is a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in FCI Nagar?

For a property valued at Rs 26,40,000, the stamp duty would be Rs 1,84,800 and the registration fee would be Rs 52,800, totaling Rs 2,37,600.

Which Sub Registrar Office is responsible for FCI Nagar?

The Padappai Sub Registrar Office is responsible for FCI Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value in Perungalathur?

The median guideline value for streets in Perungalathur is Rs 2,310 per sq.ft, with FCI Nagar's current value being above this median.