Guideline Value for MS FORTUNE CITY

Ms Fortune City guideline value

The current guideline value of Ms Fortune City is Rs 880 per sq.ft, effective from 1 July 2024. This property is located in Kuthampakkam village under the Avadi SRO, classified as Residential Class III Type - II.

How the guideline value of Ms Fortune City has changed

The guideline value for Ms Fortune City has undergone several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 800 per sq.ft, which increased to Rs 880 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, the register does not provide figures for the specified years. The most recent change reflects a significant update in the guideline value for this area, aligning it with the current market conditions.

Guideline values in Kuthampakkam

In Kuthampakkam, there are 19 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,564 per sq.ft, with a median value of Rs 1,642 per sq.ft. Ms Fortune City's 2024 figure of Rs 880 per sq.ft is below this median.

• Ms Dream Town Thiru Jayanthinadhar Nagar: Rs 880 per sq.ft (2024)
• Ms Residency: Rs 770 per sq.ft (2024)
• Ms Residency Extension: Rs 990 per sq.ft (2024)
• Magica: Rs 1,642 per sq.ft (2024)
• Kumaran Highway City: Rs 3,564 per sq.ft (2024)
• Gowri Avenue: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ms Fortune City

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ms Fortune City?

The Sub Registrar Office covering Ms Fortune City is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kuthampakkam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property transfer.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency and compliance with local regulations. Buyers and sellers should always refer to the current guideline value to understand their financial obligations during the process.

Frequently asked questions

What is the current guideline value of Ms Fortune City?

The current guideline value of Ms Fortune City is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

In the 2023 revision, the guideline value was Rs 800 per sq.ft, which increased to Rs 880 per sq.ft in the 2024 revision, reflecting a +10% change.

What is the land classification of Ms Fortune City?

Ms Fortune City is classified as Residential Class III Type - II, indicating its designation for residential development.

What other streets have guideline values in Kuthampakkam?

Other streets in Kuthampakkam include Ms Dream Town Thiru Jayanthinadhar Nagar, Ms Residency, Ms Residency Extension, Magica, Kumaran Highway City, and Gowri Avenue, each with their respective guideline values.

Where is the Sub Registrar Office located for Ms Fortune City?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.