Guideline Value for Fathima Street

Fathima Street guideline value

The current guideline value for Fathima Street in Naravarikuppam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Special Type - I.

How the guideline value of Fathima Street has changed

The guideline value for Fathima Street has seen several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 4,333 per sq.ft. In 2003, it decreased to Rs 442 per sq.ft, marking a significant drop of 90%. The 2007 revision saw an increase to Rs 500 per sq.ft, a rise of 13%. The value then increased dramatically to Rs 2,000 per sq.ft in 2012, a 300% increase. However, it fell to Rs 1,340 per sq.ft in 2017, which was a decrease of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent 2024 revision increased it to Rs 2,200 per sq.ft, reflecting a 10% rise.

There are no figures available for the revisions in years other than those mentioned. The overall change from the 2002 revision to the 2024 revision reflects a decrease of 49% in the guideline value.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Fathima Street's 2024 figure above that median.

• Erikkarai Street: Rs 1,320 per sq.ft (2024)
• Erattamalai Srinivasan Street: Rs 1,650 per sq.ft (2024)
• Duraiswamy Street: Rs 1,650 per sq.ft (2024)
• Duraiswamy Mudaliar Street: Rs 3,300 per sq.ft (2024)
• Duraisamy Reddy Street: Rs 1,650 per sq.ft (2024)
• Durai Abdul Vahab Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Fathima Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Fathima Street?

The Sub Registrar Office that covers Fathima Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Naravarikuppam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. The registration process requires that these fees be calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, buyers should be aware that the guideline value can influence the overall cost of the transaction. It is important to check the current guideline value to ensure that all fees are accurately calculated and paid during the registration process.

Frequently asked questions

What is the current guideline value of Fathima Street?

The current guideline value of Fathima Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,333 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Fathima Street?

Fathima Street is classified as Residential Special Type - I under the Redhills SRO.

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

The Sub Registrar Office for Fathima Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Fathima Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft would incur a stamp duty of Rs 1,54,000.