Guideline Value for FORTUNE
₹7400/sq.ft.
The guideline value for Fortune in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 7400 per sq.ft, effective 1 July 2024. It was Rs 6717 per sq.ft from 1 April 2023, a 10% change. The land classification is Mixed Type - Ii. Source: TNReginet guideline value register.
Last updated:
Chennai
Zone
Palavakkam
Village
Neelankarai
SRO
Mixed Type - II
History
| Period | Guideline Value |
|---|---|
| From 1-7-2024 | ₹7400 /sq.ft. |
| From 1-4-2023 | ₹6717 /sq.ft. |
| From 9-6-2017 To 31-3-2023 | ₹4500 /sq.ft. |
| From 1-4-2012 To 8-6-2017 | N/A |
| From 1-8-2007 To 31-3-2012 | N/A |
| From 1-4-2003 To 31-7-2007 | N/A |
| From 1-4-2002 To 31-3-2003 | N/A |
Guideline Value Timeline
Guideline Value Comparison
SRO (Sub Registrar Office)
2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]
DRO (District Registrar Office)
Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]
DIG (Deputy Inspector General)
Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Fortune
- Patta chitta: who holds the survey number and its extent, free
- Encumbrance certificate (EC): every registered sale and mortgage on it
- FMB sketch and the village map: its boundary and neighbours
- Neelankarai sub-registrar office: address, phone and every village it registers
- Stamp duty and registration fee on this guideline value
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Fortune guideline value
The current guideline value of Fortune in Palavakkam village, under the Neelankarai SRO, is Rs 7,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.
How the guideline value of Fortune has changed
The guideline value for Fortune has seen significant changes over the years. The 2017 revision set the value at Rs 4,500 per sq.ft, which increased to Rs 6,717 per sq.ft in 2023. The most recent 2024 revision has further raised the guideline value to Rs 7,400 per sq.ft, marking a 10% increase from the previous year.
From 2017 to 2023, the change was a substantial 49%, and overall, from 2017 to 2024, the increase is 64%. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.
Guideline values in Palavakkam
In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Fortune's 2024 figure above that median.
- E.V.R.Periyar Street (Periyar Road): Rs 4,400 per sq.ft (2024)
- E.V.R.Periyar Street: Rs 4,400 per sq.ft (2024)
- E.V.R.Periyar Salai(Main Road): Rs 4,400 per sq.ft (2024)
- E.V.R.Periyar Salai Cross Street: Rs 4,400 per sq.ft (2024)
- Gandhi Nagar 1st Cross Street: Rs 1,700 per sq.ft (2024)
- Gandhi Nagar 1st Street: Rs 4,400 per sq.ft (2024)
Stamp duty and registration fee for property in Fortune
For a 1,000 sq.ft plot at the current guideline value of Rs 7,400 per sq.ft, the total guideline value would be Rs 74,00,000. The stamp duty at 7% would amount to Rs 5,18,000, and the registration fee at 2% would be Rs 1,48,000, totaling Rs 6,66,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.
You can also use the stamp duty and registration fee calculator for more precise calculations.
Which Sub Registrar Office covers Fortune?
The Sub Registrar Office that covers Fortune is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.
How the guideline value is used when you buy or sell in Palavakkam
The guideline value plays a crucial role in the registration process of property transactions in Palavakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.
When buying or selling a property, it is essential to be aware of the current guideline value, as it can impact the overall costs involved in the transaction. Buyers should ensure that they are informed about the guideline value to avoid any surprises during the registration process.
Frequently asked questions
What is the current guideline value of Fortune?
The current guideline value of Fortune is Rs 7,400 per sq.ft, effective from 1 July 2024.
How has the guideline value changed over the years?
The guideline value has increased from Rs 4,500 per sq.ft in 2017 to Rs 6,717 per sq.ft in 2023, and now to Rs 7,400 per sq.ft in 2024.
What is the land classification for Fortune?
The land classification for Fortune is Mixed Type - II.
How is stamp duty calculated for properties in Fortune?
Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 74,00,000 would incur a stamp duty of Rs 5,18,000.
Where is the Sub Registrar Office for Fortune located?
The Neelankarai Sub Registrar Office, which covers Fortune, is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.
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