Guideline Value for FORD CITY (PER)

Ford City (Per) guideline value

The current guideline value of Ford City (Per) is Rs 661 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ford City (Per) has changed

The guideline value for Ford City (Per) has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 600 per sq.ft. This value remained unchanged until the next revision in 2017, which saw a decrease to Rs 402 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 600 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 661 per sq.ft, marking 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 experienced a slight increase of 10%.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that the 2024 guideline value for Ford City (Per) is below this median.

• Ganapathi Nagar (Ward -15): Rs 550 per sq.ft (2024)
• Ganapathi Nagar (Ward -19): Rs 661 per sq.ft (2024)
• Ganapathi Puram Kattankolathur (Ward -17): Rs 660 per sq.ft (2024)
• Ganapathy Colony (Sa): Rs 550 per sq.ft (2024)
• Ettiamman Koil Street Sattamangalam (Ward -15): Rs 550 per sq.ft (2024)
• Ganapathy Nagar (Kr): Rs 661 per sq.ft (2024)

Stamp duty and registration fee for property in Ford City (Per)

For a 1,000 sq.ft plot at the current guideline value of Rs 661 per sq.ft, the total guideline value would be Rs 6,61,000. The stamp duty at 7% would amount to Rs 46,270, and the registration fee at 2% would be Rs 13,220, bringing the total cost for these fees to Rs 59,490. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Ford City (Per)?

The Sub Registrar Office that covers Ford City (Per) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO online for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peramanoor. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that transactions are recorded at a value that reflects the official rates set by the government.

In practice, the guideline value is used to calculate the stamp duty and registration fees that must be paid during the property transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ford City (Per)?

The current guideline value of Ford City (Per) is Rs 661 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 661 per sq.ft in 2024.

What are the other streets in Peramanoor and their guideline values?

Other streets in Peramanoor include Ganapathi Nagar (Ward -15) at Rs 550 per sq.ft, Ganapathi Nagar (Ward -19) and Ganapathy Nagar (Kr) at Rs 661 per sq.ft, and several others with varying rates.

What is the stamp duty rate for properties in Ford City (Per)?

The stamp duty rate for properties in Ford City (Per) is 7% of the guideline value or the sale price, whichever is higher.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.