Guideline Value for St. Francis Nagar

St. Francis Nagar guideline value

The current guideline value of St. Francis Nagar, located in Kovilpathagai village under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of St. Francis Nagar has changed

The guideline value for St. Francis Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 880 per sq.ft, an increase from Rs 800 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 536 per sq.ft, which reflects a significant increase of 49% from 2017 to 2023. The 2012 revision also had a value of Rs 800 per sq.ft, indicating a decrease of 33% to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register does not provide figures for the years 2002, 2003, and 2007 for this street. The 2012 revision was the first recorded figure for St. Francis Nagar.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, placing St. Francis Nagar's 2024 figure above the median.

• St Francis Nagar Extention: Rs 1,200 per sq.ft (2024)
• St Josph Nagar: Rs 806 per sq.ft (2024)
• St. Pauls Nagar: Rs 807 per sq.ft (2024)
• St Perter's Nagar: Rs 807 per sq.ft (2024)
• St Peter Street: Rs 805 per sq.ft (2024)
• Subash Chandrabose Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in St. Francis Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers St. Francis Nagar?

The Sub Registrar Office that covers St. Francis Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When selling a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for tax purposes. Buyers should be aware that the guideline value may influence their overall costs during the purchase process.

Frequently asked questions

What is the current guideline value of St. Francis Nagar?

The current guideline value of St. Francis Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024, an increase of 10%. It rose from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023, marking a 49% increase.

What is the land classification for St. Francis Nagar?

St. Francis Nagar is classified as Residential Class II Type - I, which indicates the type of development permissible in the area.

Where can I find the Sub Registrar Office for St. Francis Nagar?

The Sub Registrar Office for St. Francis Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in St. Francis Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a 1,000 sq.ft plot at the guideline value of Rs 880 per sq.ft totals Rs 8,80,000, resulting in stamp duty and registration fees that can be calculated accordingly.