Guideline Value for FORTUNE CITY

Fortune City guideline value

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

How the guideline value of Fortune City has changed

Over the years, the guideline value for Fortune City has remained consistent. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The revisions available show that in 2023, the guideline value was Rs 800 per sq.ft, which remained unchanged in the 2024 revision.

Thus, the change from 2023 to 2024 reflects a 0% increase, maintaining the guideline value at Rs 800 per sq.ft. This stability indicates that there have been no fluctuations in the guideline value for this street in the recent revisions.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,239 per sq.ft. The median value for these streets is Rs 800 per sq.ft, which aligns with the guideline value of Fortune City.

• Fortune City Phase - II: Rs 800 per sq.ft (2024)
• Fortune City Phase-III: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty, charged 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 the duty is charged on either the guideline value or the sale price, whichever is higher.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Fortune City?

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

To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Kavanur. It is the benchmark used to determine the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of this value as it directly impacts the overall cost involved in a property transaction.

When registering a property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's worth.

Frequently asked questions

What is the current guideline value of Fortune City?

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

How has the guideline value changed over the years?

The guideline value for Fortune City has remained stable at Rs 800 per sq.ft since the 2023 revision, with no changes noted in the previous revisions from 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Fortune City?

Fortune City is classified as Residential Special Type - III under the Gooduvancheri SRO.

Where can I find the registration office for Fortune City?

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

How is stamp duty calculated for properties in Kavanur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 8,00,000 would incur a stamp duty of Rs 56,000 at a rate of 7%.