Guideline Value for GREEN CITY 1,2,3

Green City 1,2,3 guideline value

The current guideline value for Green City 1,2,3 in Kavanipakkam village is Rs 101 per sq.ft, effective from 1 July 2024. This area falls under the Salavakkam Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Green City 1,2,3 has changed

Over the years, the guideline value of Green City 1,2,3 has seen several revisions. The 2012 revision set the value at Rs 70 per sq.ft, which then decreased to Rs 47 per sq.ft in 2017. From 2017 to 2023, the value increased significantly to Rs 100 per sq.ft, marking a 113% rise. The most recent revision in 2024 brought the guideline value up to Rs 101 per sq.ft, a 1% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 44%.

Guideline values in Kavanipakkam

Kavanipakkam village has four streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 101 to Rs 389 per sq.ft, with a median of Rs 102 per sq.ft. Green City 1,2,3's current guideline value is below this median.

• A.R.Avenue: Rs 102 per sq.ft (2024)
• Sri Balaji Avenue Part-III: Rs 101 per sq.ft (2024)
• Yellow Land Setters: Rs 389 per sq.ft (2024)

Stamp duty and registration fee for property in Green City 1,2,3

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value amounts to Rs 1,01,000. The stamp duty at 7% would be Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total cost to Rs 9,090. It is essential to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Green City 1,2,3?

The Green City 1,2,3 area is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kavanipakkam. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official valuation rather than the sale price.

When buying or selling property, the guideline value helps in determining the legal and financial obligations involved in the transaction. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can affect their overall costs.

Frequently asked questions

What is the current guideline value for Green City 1,2,3?

The current guideline value for Green City 1,2,3 is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2012 to Rs 101 per sq.ft in 2024, with significant increases in 2017 and 2023.

What is the land classification for Green City 1,2,3?

Green City 1,2,3 is classified as Residential Class II Type - I.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kavanipakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 1,01,000 would incur a stamp duty of Rs 7,070 at 7%.