Guideline Value for Fortune City

Fortune City guideline value

The current guideline value of Fortune City, located in Mambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft as per the 2023 revision. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Fortune City has changed

The guideline value for Fortune City has undergone several revisions over the years. In 2007, the guideline value was Rs 820 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, in 2017, the value decreased to Rs 804 per sq.ft. The most recent revision in 2023 saw the guideline value rise significantly to Rs 1,200 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, from 2007 to 2023, the guideline value has increased by 46%. The revisions for the years 2002, 2003, and 2024 do not have any figures listed for this street.

Guideline values in Mambakkam

While specific village figures are not provided, Fortune City is situated within Mambakkam. There are no other streets in Mambakkam under the Gooduvancheri SRO listed at this time.

Stamp duty and registration fee for property in Fortune City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total charges to Rs 1,08,000. 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 more details.

Which Sub Registrar Office covers Fortune City?

The Sub Registrar Office that covers Fortune City is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Fortune City?

The current guideline value of Fortune City is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 820 per sq.ft to Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, and then increased again to Rs 1,200 per sq.ft in 2023.

What is the stamp duty rate for property in Fortune City?

The stamp duty rate for property in Fortune City is 7% of the guideline value or sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Is there a guideline value for the years 2002 and 2003 for Fortune City?

No, the register does not have any figures for the years 2002 and 2003 for Fortune City.