Guideline Value for GREEN CITY

Green City guideline value

The current guideline value for Green City in Devathanam village under the Ponneri SRO is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Green City has changed

The guideline value for Green City has seen several revisions over the years. In the 2017 revision, the value was set at Rs 67 per sq.ft. This figure increased significantly to Rs 100 per sq.ft in the 2023 revision, marking a 49% rise. The 2024 revision maintained this value at Rs 100 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 49%. The stability in the guideline value from 2023 to 2024 indicates a consistent valuation for this area.

Guideline values in Devathanam

In Devathanam, there are 23 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 111 per sq.ft, with a median value of Rs 100 per sq.ft. Green City's 2024 figure aligns with this median.

• Imayam Nagar: Rs 111 per sq.ft (2024)
• Gandhi Nagar: Rs 100 per sq.ft (2024)
• Jeremiah City: Rs 111 per sq.ft (2024)
• J S Nagar: Rs 100 per sq.ft (2024)
• Dr.M.G.R.NAGAR PHASE-III,IV: Rs 100 per sq.ft (2024)
• Dheepam Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Green City

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty, charged at 7%, would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Green City?

The Sub Registrar Office that covers Green City is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the property registration process in Devathanam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value for Green City?

The current guideline value for Green City is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Green City has increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in both 2023 and 2024, reflecting a 49% rise overall from 2017 to 2024.

What are the stamp duty and registration fees for property in Green City?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for Green City?

The Ponneri Sub Registrar Office is responsible for property registrations in Green City, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as an official valuation for properties in the area.