Guideline Value for Fortune Square

Fortune Square guideline value

The current guideline value of Fortune Square is Rs 1,000 per sq.ft. It is located in Rathinamangalam village under the Gooduvancheri SRO, classified as Residential Special Type - II.

How the guideline value of Fortune Square has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a drop of 33%. The most recent revision in 2023 saw the guideline value increase to Rs 1,000 per sq.ft again, resulting in a 49% increase from the 2017 figure.

Overall, from the 2012 revision to the 2023 revision, the guideline value has remained the same at Rs 1,000 per sq.ft. The register does not have figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Rathinamangalam

Currently, there are no specific village figures available for Rathinamangalam. Fortune Square is part of the Gooduvancheri SRO, which covers this area.

Stamp duty and registration fee for property in Fortune Square

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. 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 information.

Which Sub Registrar Office covers Fortune Square?

The Sub Registrar Office that covers Fortune Square is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is used as a basis for calculating stamp duty and registration fees when buying or selling property in Rathinamangalam. It is essential to know the current guideline value to ensure accurate calculations for these fees.

When registering a property, the higher amount between the guideline value and the sale price will be considered for calculating the applicable duties. 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 Square?

The current guideline value of Fortune Square is Rs 1,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

From the 2012 revision to the 2017 revision, the guideline value decreased from Rs 1,000 per sq.ft to Rs 670 per sq.ft. However, it increased back to Rs 1,000 per sq.ft in the 2023 revision.

What is the land classification of Fortune Square?

Fortune Square is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the Gooduvancheri Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at the current rate has a total guideline value of Rs 10,00,000, leading to a total fee of Rs 90,000.