Guideline Value for Fine Star Nagar

Fine Star Nagar guideline value

The current guideline value of Fine Star Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Salamangalam village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Fine Star Nagar has changed

The guideline value for Fine Star Nagar has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 70 per sq.ft. This figure saw a significant increase to Rs 550 per sq.ft in the 2012 revision, marking a rise of 686%. However, the value dropped to Rs 368 per sq.ft in the 2017 revision, which was a decrease of 33%. The value then increased again to Rs 550 per sq.ft in both the 2023 and 2024 revisions, with no change between these two years.

It is important to note that the register has no figures for the years 2002 and 2003 for Fine Star Nagar. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 686%.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 3,100 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing Fine Star Nagar's 2024 figure above this median.

• Esther Nagar: Rs 400 per sq.ft (2024)
• Ganapathy Nagar: Rs 400 per sq.ft (2024)
• Empire Avenue: Rs 400 per sq.ft (2024)
• Durgai Amman Nagar: Rs 550 per sq.ft (2024)
• Gokul Nagar: Rs 600 per sq.ft (2024)
• Green Avenue: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Fine Star Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Fine Star Nagar?

The Sub Registrar Office that covers Fine Star Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Salamangalam. It serves as a reference point for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

When registering a property transaction, the guideline value helps in assessing the fair value of the property. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Fine Star Nagar?

The current guideline value of Fine Star Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2007 to Rs 550 per sq.ft in 2012, then decreased to Rs 368 per sq.ft in 2017, and returned to Rs 550 per sq.ft in both 2023 and 2024.

What is the registration office for Fine Star Nagar?

The registration office for Fine Star Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Fine Star Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 38,500 based on the current guideline value.

What is the land classification of Fine Star Nagar?

Fine Star Nagar is classified as Residential Special Type - I, which is important for understanding the zoning and usage regulations in the area.