Guideline Value for ford union city

Ford Union City guideline value

The current guideline value for Ford Union City in Nenmeli village is Rs 400 per sq.ft, effective from the 2024 revision. This value falls under the Residential Class II Type - I land classification and is registered with the Chengleput Joint I SRO.

How the guideline value of Ford Union City has changed

Over the years, the guideline value for Ford Union City has seen various revisions. The most recent revision in 2024 maintains the guideline value at Rs 400 per sq.ft, which is the same as the previous revision in 2023. In contrast, the 2017 revision recorded a guideline value of Rs 268 per sq.ft, indicating a significant increase of 49% from 2017 to 2023.

Prior to 2017, the 2012 revision also set the guideline value at Rs 400 per sq.ft. This reflects a decrease of 33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nenmeli

Nenmeli village comprises 53 streets under the Chengleput Joint I SRO, with guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value in Nenmeli is Rs 612 per sq.ft, placing Ford Union City’s 2024 figure below this median.

• Kumarasami Nagar Part - II: Rs 500 per sq.ft (2024)
• Kumarasamy Nagar: Rs 500 per sq.ft (2024)
• Lake Avenue: Rs 800 per sq.ft (2024)
• M.V.R.Garden: Rs 1,045 per sq.ft (2024)
• Nbj Avenue: Rs 1,195 per sq.ft (2024)
• Nsar காலனி: Rs 612 per sq.ft (2024)

Stamp duty and registration fee for property in Ford Union City

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty, charged at 7%, would be Rs 28,000, while the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to 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 Ford Union City?

The Ford Union City area is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Nenmeli. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value is referenced to determine the official value of the property for registration purposes. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Ford Union City?

The current guideline value for Ford Union City is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What is the land classification for Ford Union City?

Ford Union City is classified as Residential Class II Type - I, which indicates its suitability for residential development.

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

For a property valued at Rs 4,00,000, the stamp duty is Rs 28,000 and the registration fee is Rs 8,000, totaling Rs 36,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registration in Ford Union City?

The Chengleput Joint I Sub Registrar Office is responsible for property registration in Ford Union City, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.