Guideline Value for GREEN CASTLE AVENUE

Green Castle Avenue guideline value

The current guideline value of Green Castle Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madurabakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Green Castle Avenue has changed

In the 2017 revision, the guideline value for Green Castle Avenue was Rs 1,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it continued to be Rs 1,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a 7% increase in the guideline value. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madurabakkam

In Madurabakkam, there are 23 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 2,700 per sq.ft. The median value among these streets is Rs 1,600 per sq.ft, which is equal to the guideline value of Green Castle Avenue.

• Dr.RAGINI CITY: Rs 1,600 per sq.ft (2024)
• Dharani Nagar: Rs 1,600 per sq.ft (2024)
• Devi Kamatchi Nagar: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagr: Rs 1,300 per sq.ft (2024)
• Kaviya Nagar: Rs 1,600 per sq.ft (2024)
• Kavya Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Green Castle Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, leading to a total of Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Green Castle Avenue?

The Sub Registrar Office that covers Green Castle Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madurabakkam

The guideline value is a crucial factor during property registration in Madurabakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives due revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is assessed to calculate the applicable stamp duty and registration fees. This value is essential for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Green Castle Avenue?

The current guideline value of Green Castle Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Green Castle Avenue has remained at Rs 1,500 per sq.ft from 2017 to 2023. It increased to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

What is the land classification of Green Castle Avenue?

Green Castle Avenue is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where is the Sub Registrar Office for Green Castle Avenue located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Green Castle Avenue?

Stamp duty for properties in Green Castle Avenue is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,12,000.