Guideline Value for FORD CITY (PER)

Ford City (Per) guideline value

The current guideline value of Ford City (Per) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Sattamangalam 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

Looking at the historical revisions, the guideline value for Ford City (Per) was Rs 600 per sq.ft in 2023, which increased to Rs 660 per sq.ft in 2024, marking a change of +10%. Prior to that, in 2017, the value was Rs 402 per sq.ft, showing a significant increase of +49% from 2017 to 2023. The 2012 revision recorded a value of Rs 600 per sq.ft, which saw a decrease of -33% to Rs 402 per sq.ft in 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +10%. The 2012 figure was Rs 600 per sq.ft, and the current value is Rs 660 per sq.ft.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that Ford City (Per) is below this median.

• Ganapathi Nagar (Ward -15): Rs 440 per sq.ft (2024)
• Ganapathi Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Ganapathi Puram Kattankolathur (Ward -17): Rs 550 per sq.ft (2024)
• Ganapathy Colony (Sa): Rs 660 per sq.ft (2024)
• Ettiamman Koil Street Sattamangalam (Ward -15): Rs 660 per sq.ft (2024)
• Ganapathy Nagar (Kr): Rs 660 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. 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 for more information.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Sattamangalam. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in 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 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ford City (Per) has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, an increase of +10%. It was Rs 402 per sq.ft in 2017, showing a +49% increase to 2023.

What is the land classification for Ford City (Per)?

Ford City (Per) is classified as Residential Class I Type - III, which indicates its designation for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is the stamp duty calculated for properties in Ford City (Per)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000, leading to a stamp duty of Rs 46,200.