Guideline Value for GREEN CITY

Green City guideline value

The current guideline value of Green City, located in Maiyur village under the Chengleput Joint II SRO, is Rs 400 per sq.ft. This value will be effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Green City has changed

Looking at the historical revisions, the guideline value for Green City was Rs 400 per sq.ft in 2023, which remained unchanged in the 2024 revision. The previous revision in 2017 saw a significant increase to Rs 268 per sq.ft in 2012, marking a 49% rise from 2017 to 2023 and a decrease of 33% from 2012 to 2017. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has remained stable at Rs 400 per sq.ft. The 2024 figure aligns with the median value of Rs 400 per sq.ft for the 28 streets in Maiyur under the Chengleput Joint II SRO.

Guideline values in Maiyur

In Maiyur, the guideline values for 2024 range from Rs 200 to Rs 700 per sq.ft, with the median being Rs 400 per sq.ft, which is the same as the value for Green City. Below are the guideline values for other streets in Maiyur:

• Green Park Avenue: Rs 400 per sq.ft (2024)
• Golden Palar Gardens: Rs 400 per sq.ft (2024)
• Hariyagrivar Nagar: Rs 400 per sq.ft (2024)
• Indirangandhi Town: Rs 700 per sq.ft (2024)
• Karunai Nagar: Rs 400 per sq.ft (2024)
• Krishna Nagar: Rs 400 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 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, making a total of Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use 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 Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Maiyur

The guideline value plays a crucial role during the registration of property transactions in Maiyur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Green City?

The current guideline value of Green City is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the value remaining at Rs 400 per sq.ft in 2023 and 2024. It increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2024, with no changes in the 2012 revision.

What are the stamp duty rates for property in Green City?

The stamp duty rate for property transactions in Green City is 7%. This is calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Green City located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Tamil Nadu.

What is the land classification for Green City?

Green City falls under the Residential Class I Type - I land classification, which is relevant for determining the guideline value and applicable regulations.