Guideline Value for NEW FARRONS ROAD

New Farrons Road guideline value

The current guideline value of New Farrons Road is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO and is classified as Residential Class II Type - II.

How the guideline value of New Farrons Road has changed

The guideline value for New Farrons Road has seen several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, this value decreased to Rs 2,345 per sq.ft in 2017. The 2023 revision raised it to Rs 3,500 per sq.ft, and the most recent 2024 revision increased it further to Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 111%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Perambur

In Perambur, there are 1114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, positioning New Farrons Road's 2024 figure above this median.

• New Farrons Road 1st Lane: Rs 3,300 per sq.ft (2024)
• New Farrons Road 2nd Lane: Rs 3,300 per sq.ft (2024)
• New Farrons Road 3rd Lane: Rs 3,300 per sq.ft (2024)
• New Farrons Road 4th Lane: Rs 3,300 per sq.ft (2024)
• New Kamaraj Nagar: Rs 2,700 per sq.ft (2024)
• New Kamaraj Nagar Nehruji 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in New Farrons Road

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. Note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Farrons Road?

The Sub Registrar Office covering New Farrons Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Perambur. It determines the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both the buyer and seller. It helps in establishing a baseline for negotiations, ensuring that transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of New Farrons Road?

The current guideline value of New Farrons Road is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased significantly, from Rs 1,800 per sq.ft to Rs 3,800 per sq.ft in 2024, marking an overall increase of 111%.

What is the land classification for New Farrons Road?

New Farrons Road is classified as Residential Class II Type - II under the guideline value register.

Where can I find the registration office for New Farrons Road?

The registration office for New Farrons Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in New Farrons Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at 7%.