Guideline Value for GREEN ACRES

Green Acres guideline value

The current guideline value for Green Acres in Kolapakkam village is Rs 2,000 per sq.ft, as per the 2023 revision. This area falls under the Gooduvancheri Sub Registrar Office and is classified as Residential Special Type - III.

How the guideline value of Green Acres has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. However, in the 2017 revision, it decreased to Rs 1,340 per sq.ft, marking a reduction of 33%. The most recent revision in 2023 saw a significant increase to Rs 2,000 per sq.ft, resulting in a 49% rise from the 2017 figure.

Overall, when comparing the 2012 and 2023 revisions, the guideline value has remained unchanged at Rs 2,000 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Kolapakkam

While there are no specific village figures available for Kolapakkam, Green Acres is part of the Gooduvancheri SRO. Currently, there are no other streets in Kolapakkam listed with guideline values.

Stamp duty and registration fee for property in Green Acres

For a 1,000 sq.ft plot at the current rate of Rs 2,000 per sq.ft, the guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total to Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Green Acres?

The Sub Registrar Office that covers Green Acres is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Kolapakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher value between the guideline value and the sale price.

When a property transaction occurs, the guideline value ensures that the appropriate taxes are collected, reflecting the official valuation of the property. Buyers and sellers must be aware of this value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Green Acres?

The current guideline value of Green Acres is Rs 2,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value for Green Acres was Rs 2,000 per sq.ft in 2012, decreased to Rs 1,340 per sq.ft in 2017, and then increased back to Rs 2,000 per sq.ft in 2023.

What is the land classification for Green Acres?

Green Acres is classified as Residential Special Type - III, which indicates its designated use for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,80,000.