Guideline Value for FORTUNE CITY PHASE - II

Fortune City Phase - II guideline value

The current guideline value of Fortune City Phase - II is Rs 800 per sq.ft, effective from 1 July 2024. This property is located in Kavanur village, under the Gooduvancheri SRO, and is classified as Residential Special Type - III.

How the guideline value of Fortune City Phase - II has changed

The guideline value for Fortune City Phase - II has remained consistent over recent revisions. The 2024 revision maintains the value at Rs 800 per sq.ft, which is the same as the 2023 revision. There are no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value has not changed from Rs 800 per sq.ft between the 2023 and 2024 revisions, indicating stability in this area. The absence of figures in earlier revisions suggests that the value has been established recently, reflecting the current market conditions.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO, with a 2024 guideline value range from Rs 500 to Rs 2,239 per sq.ft. The median guideline value is Rs 800 per sq.ft, placing Fortune City Phase - II at the median value for this area.

• Fortune City Phase-III: Rs 800 per sq.ft (2024)
• Fortune City: Rs 800 per sq.ft (2024)
• Gangai Amman Nagar: Rs 700 per sq.ft (2024)
• Dwaraka Maye Avenue Part - I: Rs 600 per sq.ft (2024)
• Dwaraka Maiye Avenue Part -II: Rs 600 per sq.ft (2024)
• G K S Diamond Green: Rs 2,239 per sq.ft (2024)

Stamp duty and registration fee for property in Fortune City Phase - II

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Fortune City Phase - II?

The Sub Registrar Office that covers Fortune City Phase - II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kavanur, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value helps in establishing a clear understanding of the property's worth in the eyes of the law.

Frequently asked questions

What is the current guideline value of Fortune City Phase - II?

The current guideline value of Fortune City Phase - II is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 800 per sq.ft from 2023 to 2024, with no figures available for earlier revisions in 2017, 2012, 2007, 2003, and 2002.

What is the median guideline value in Kavanur?

The median guideline value in Kavanur is Rs 800 per sq.ft, which is the same as the guideline value for Fortune City Phase - II.

What are the stamp duty rates for properties in Fortune City Phase - II?

The stamp duty for properties in Fortune City Phase - II is 7%, calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Fortune City Phase - II located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.