Guideline Value for Friends City Layout

Friends City Layout guideline value

The current guideline value for Friends City Layout in Kottaiyoor village is Rs 200 per sq.ft, effective from 1 July 2024. This property falls under the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

How the guideline value of Friends City Layout has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, marking a decrease of 33%. The next revision in 2023 saw the value return to Rs 200 per sq.ft, with no change in the 2024 revision, maintaining the same rate.

From 2017 to 2023, there was an increase of 49%, but overall from 2012 to 2024, the guideline value has not changed, remaining at Rs 200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kottaiyoor

In Kottaiyoor, there are 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 900 per sq.ft, with the median being Rs 250 per sq.ft. Friends City Layout's current value is below this median.

• Indhira Nagar: Rs 150 per sq.ft (2024)
• Kings Avenue: Rs 250 per sq.ft (2024)
• Kottaiyoor Colony: Rs 150 per sq.ft (2024)
• Kottaiyoor Colony Cross Street: Rs 150 per sq.ft (2024)
• Kullakarai Cross Street: Rs 200 per sq.ft (2024)
• Mariamman Kovil street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Friends City Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, which is Rs 14,000, while the registration fee at 2% amounts to Rs 4,000. Therefore, the total cost for stamp duty and registration fee together is Rs 18,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Friends City Layout?

The Friends City Layout falls under the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Kottaiyoor. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value must be considered to avoid any discrepancies during registration. It serves as a benchmark for both buyers and sellers to understand the value of the property being transacted.

Frequently asked questions

What is the current guideline value for Friends City Layout?

The current guideline value for Friends City Layout in Kottaiyoor village is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Friends City Layout has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 200 per sq.ft. The value dropped to Rs 134 per sq.ft in 2017 before returning to Rs 200 per sq.ft in 2023.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 2,00,000, the stamp duty is Rs 14,000 at 7%, and the registration fee is Rs 4,000 at 2%. The total cost for these fees is Rs 18,000.

Which Sub Registrar Office covers Friends City Layout?

The Sunguvarchattram Sub Registrar Office covers Friends City Layout, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the guideline value determined for properties in Kottaiyoor?

The guideline value for properties in Kottaiyoor is determined by the Registration Department's guideline value register. It reflects the minimum value for property transactions and is revised periodically.