Guideline Value for CHENNAI GREEN ARLADE

Chennai Green Arlade guideline value

The current guideline value of Chennai Green Arlade, located in Thailavaram village, is Rs 770 per sq.ft, as per the 2024 revision effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Chennai Green Arlade has changed

The guideline value for Chennai Green Arlade has seen several revisions over the years. In 2012, the guideline value was Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in 2017. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase. The current value of Rs 770 per sq.ft aligns with the median value of Rs 770 per sq.ft for the 132 streets in Thailavaram under the Chengleput Joint II SRO.

Guideline values in Thailavaram

In Thailavaram, the guideline values range from Rs 440 to Rs 2,200 per sq.ft, with the median being Rs 770 per sq.ft. Chennai Green Arlade's 2024 guideline value is equal to this median. Here are some other streets in Thailavaram with their respective guideline values:

• Chamudeeswari Nagar (Ward-21): Rs 1,980 per sq.ft (2024)
• C.B.S.C Nagar (Val): Rs 881 per sq.ft (2024)
• Bhuvaneswari Amman Nagar (Ward-21): Rs 660 per sq.ft (2024)
• Bharathi Street (Ward-21): Rs 660 per sq.ft (2024)
• Bharathiar Street (Ward-20): Rs 1,100 per sq.ft (2024)
• Bhagatsingh Street (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Chennai Green Arlade

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chennai Green Arlade?

The Chennai Green Arlade area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Thailavaram. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings and ensures that the correct amount of taxes is collected by the government.

Frequently asked questions

What is the current guideline value of Chennai Green Arlade?

The current guideline value of Chennai Green Arlade is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Chennai Green Arlade?

Chennai Green Arlade is classified as Residential Class I Type - III, indicating its suitability for residential development.

How is the stamp duty calculated for property in Chennai Green Arlade?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 7,70,000, the stamp duty would be Rs 53,900.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details through the provided link.