Guideline Value for CHENNAI-2 GREEN CITY PHASE-I

Chennai-2 Green City Phase-I guideline value

The current guideline value for Chennai-2 Green City Phase-I is Rs 1,110 per sq.ft, effective from 1 July 2024. This property is located in Nedunkumdram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - II.

How the guideline value of Chennai-2 Green City Phase-I has changed

The guideline value for Chennai-2 Green City Phase-I has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was updated to Rs 1,005 per sq.ft, and then increased to Rs 1,110 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nedunkumdram

Nedunkumdram village has a total of 75 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 330 to Rs 5,300 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Chennai-2 Green City Phase-I's current figure below this median.

• Casagrand Vistaaz: Rs 3,300 per sq.ft (2024)
• Devaraj Nagar: Rs 1,430 per sq.ft (2024)
• Devaraj Nagar Extension: Rs 1,430 per sq.ft (2024)
• Devaraj Nagar I to IV: Rs 1,430 per sq.ft (2024)
• Divya Garden: Rs 330 per sq.ft (2024)
• Balasubramaniyam Nagar Phase II: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Chennai-2 Green City Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, while the registration fee at 2% would be Rs 22,200. Together, the total cost for stamp duty and registration would be Rs 99,900. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chennai-2 Green City Phase-I?

The Chennai-2 Green City Phase-I is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Nedunkumdram

The guideline value plays a crucial role when buying or selling property in Nedunkumdram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is set by the Registration Department and is subject to periodic revisions.

When a property is sold, the sale price is compared to the guideline value. The higher of the two amounts is used to calculate the stamp duty, ensuring that the appropriate fees are collected based on the established guideline value. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Chennai-2 Green City Phase-I?

The current guideline value of Chennai-2 Green City Phase-I is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,005 per sq.ft from 2017 to 2023, before increasing to Rs 1,110 per sq.ft in 2024, marking a 10% increase from the previous year.

What is the median guideline value in Nedunkumdram?

The median guideline value for the 75 streets in Nedunkumdram under the Tambaram Joint 1 SRO is Rs 2,200 per sq.ft, which is higher than the current value of Chennai-2 Green City Phase-I.

What are the stamp duty and registration fees for properties in Chennai-2 Green City Phase-I?

For a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700 and the registration fee would be Rs 22,200, totaling Rs 99,900. Duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Chennai-2 Green City Phase-I?

The Tambaram Joint 1 Sub Registrar Office covers Chennai-2 Green City Phase-I, located at No.26, Mes Road, East Tambaram, Chennai-600059.