Guideline Value for Fortune Residency
₹1650/sq.ft.
The guideline value for Fortune Residency in Varadarajapuram village (Padappai SRO, Chennai zone) is Rs 1650 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.
Last updated:
Chennai
Zone
Varadarajapuram
Village
Padappai
SRO
Residential Special Type - II
History
| Period | Guideline Value |
|---|---|
| From 1-7-2024 | ₹1650 /sq.ft. |
| From 1-4-2023 | ₹1500 /sq.ft. |
| From 9-6-2017 To 31-3-2023 | ₹1005 /sq.ft. |
| From 1-4-2012 To 8-6-2017 | ₹1500 /sq.ft. |
| From 1-8-2007 To 31-3-2012 | N/A |
| From 1-4-2003 To 31-7-2007 | N/A |
| From 1-4-2002 To 31-3-2003 | N/A |
Guideline Value Timeline
Guideline Value Comparison
SRO (Sub Registrar Office)
3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]
DRO (District Registrar Office)
Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]
DIG (Deputy Inspector General)
Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Fortune Residency
- Patta chitta: who holds the survey number and its extent, free
- Encumbrance certificate (EC): every registered sale and mortgage on it
- FMB sketch and the village map: its boundary and neighbours
- Padappai sub-registrar office: address, phone and every village it registers
- Stamp duty and registration fee on this guideline value
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Fortune Residency guideline value
The current guideline value of Fortune Residency in Varadarajapuram village, under the Padappai SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - II land classification.
How the guideline value of Fortune Residency has changed
The guideline value for Fortune Residency has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, reflecting a 49% rise. The most recent 2024 revision has further increased the guideline value to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.
It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.
Guideline values in Varadarajapuram
In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which aligns with the guideline value of Fortune Residency.
- Gajalakshmi Nagar: Rs 1,320 per sq.ft (2024)
- Gajalakshmi Nagar @ Marvel County: Rs 1,320 per sq.ft (2024)
- E.V.P Sriram Nagar: Rs 1,320 per sq.ft (2024)
- Euyropa Carmel Layout: Rs 1,650 per sq.ft (2024)
- Eswari Nagar: Rs 1,100 per sq.ft (2024)
- Elumalai Nagar: Rs 1,650 per sq.ft (2024)
Stamp duty and registration fee for property in Fortune Residency
For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that 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 Fortune Residency?
The Sub Registrar Office covering Fortune Residency is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.
How the guideline value is used when you buy or sell in Varadarajapuram
The guideline value is a crucial factor in the registration process when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded accurately.
When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.
Frequently asked questions
What is the current guideline value of Fortune Residency?
The current guideline value of Fortune Residency is Rs 1,650 per sq.ft, effective from 1 July 2024.
How has the guideline value changed over the years?
The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.
What are the stamp duty and registration fees for property in Fortune Residency?
For a 1,000 sq.ft plot valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.
Which Sub Registrar Office covers Fortune Residency?
The Padappai Sub Registrar Office covers Fortune Residency, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.
What is the land classification of Fortune Residency?
Fortune Residency falls under the Residential Special Type - II land classification, which is relevant for determining the guideline value and other regulatory aspects.
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