Guideline Value for Fathima Nagar

Fathima Nagar guideline value

The current guideline value of Fathima Nagar, located in Molachoor village under the Sunguvarchattram SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Fathima Nagar has changed

The guideline value for Fathima Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 130 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 402 per sq.ft. This was followed by a return to Rs 600 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2007 revision to the 2024 revision is a substantial increase of 362%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, which aligns with the current value for Fathima Nagar.

• ETR Avenue: Rs 1,200 per sq.ft (2024)
• Eswar Avenue: Rs 605 per sq.ft (2024)
• Elango Street: Rs 600 per sq.ft (2024)
• Gandhi Street: Rs 600 per sq.ft (2024)
• Dream Land Nagar: Rs 605 per sq.ft (2024)
• Domnic Nagar: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Fathima Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. 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 details.

Which Sub Registrar Office covers Fathima Nagar?

The Sub Registrar Office that covers Fathima Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Molachoor. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value can influence the overall costs associated with property transactions.

When registering a property, the guideline value serves as a baseline for calculating the applicable fees. It is essential for both parties to understand these values to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Fathima Nagar?

The current guideline value of Fathima Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 130 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then dropping to Rs 402 per sq.ft in 2017, and returning to Rs 600 per sq.ft in 2023 and 2024.

What is the land classification of Fathima Nagar?

Fathima Nagar is classified as Residential Special Type - III, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Fathima Nagar?

The Sub Registrar Office for Fathima Nagar is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated in Fathima Nagar?

Stamp duty in Fathima Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 42,000.