Guideline Value for Fab City

Fab City guideline value

The current guideline value of Fab City, located in Amarampedu village, under the Sriperumpudur SRO, is Rs 150 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Fab City has changed

Over the years, the guideline value of Fab City has seen several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2012 revision, where it rose to Rs 150 per sq.ft. The value then decreased to Rs 100 per sq.ft in the 2017 revision, before increasing again to Rs 150 per sq.ft in 2023, and maintaining that same value in the 2024 revision, indicating a 0% change from the previous year.

From 2017 to 2023, the guideline value increased by 50%. The change from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was 50%. Overall, from 2007 to 2024, the guideline value has increased by 50%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Amarampedu

In Amarampedu, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. Fab City's 2024 guideline value is below this median.

• Ellaiyamman Koil Street: Rs 126 per sq.ft (2024)
• Indira Gandhi Street: Rs 100 per sq.ft (2024)
• Blessing Nagar: Rs 126 per sq.ft (2024)
• Jai Nagar: Rs 350 per sq.ft (2024)
• Kalaignar Street: Rs 150 per sq.ft (2024)
• Bajanai Koil Street: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Fab City

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty, charged at 7%, would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total cost for these fees Rs 13,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Fab City?

Fab City falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process for property transactions in Amarampedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Fab City?

The current guideline value of Fab City is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions maintaining the value at Rs 150 per sq.ft since 2023. The value has increased from Rs 100 in 2007 to Rs 150 in 2012, then decreased to Rs 100 in 2017, before rising again to Rs 150 in the following years.

What is the median guideline value in Amarampedu?

The median guideline value in Amarampedu is Rs 200 per sq.ft, with Fab City's current value being below this median.

What fees are associated with property registration in Fab City?

When registering property in Fab City, the stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 13,500.

Where can I find the Sub Registrar Office for Fab City?

The Sub Registrar Office covering Fab City is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO through the provided link.