Guideline Value for GREEN CITY

Green City guideline value

The current guideline value of Green City in Palur-A village, under the Chengleput Joint II SRO, is Rs 400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Green City has changed

The guideline value for Green City has seen several revisions over the years. The 2017 revision set the rate at Rs 268 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 400 per sq.ft. The current 2024 revision continues this rate, showing no change from the previous year.

Between the revisions, there has been a significant increase. From 2017 to 2023, the guideline value increased by 49%, and the overall change from 2017 to 2024 is also +49%. For the years 2002, 2003, 2007, and 2012, the register has no figure for this street.

Guideline values in Palur-A

In Palur-A, there are 44 streets under the Chengleput Joint II SRO that carry a 2024 guideline value figure ranging from Rs 150 to Rs 600 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the current rate for Green City.

• Grace Avenue: Rs 400 per sq.ft (2024)
• Guna Nagar: Rs 400 per sq.ft (2024)
• Gangadaran Nagar: Rs 400 per sq.ft (2024)
• Ganapathy Nagar: Rs 400 per sq.ft (2024)
• Dps Nagar: Rs 400 per sq.ft (2024)
• Ceeon 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 amounts to Rs 4,00,000. The stamp duty is charged at 7%, which equals Rs 28,000, and the registration fee is 2%, amounting to Rs 8,000. Together, these fees total Rs 36,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Green City?

The Green City area falls under 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 further assistance.

How the guideline value is used when you buy or sell in Palur-A

The guideline value plays a crucial role in the registration process when buying or selling property in Palur-A. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

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

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 remained at Rs 400 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 268 per sq.ft in 2017 to the current rate.

What is the land classification for Green City?

Green City is classified as Residential Special Type - I, which designates its use for residential purposes.

Where can I find the Sub Registrar Office for Green City?

The Chengleput Joint II Sub Registrar Office covers Green City, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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 Rs 400 per sq.ft, the total guideline value is Rs 4,00,000, leading to specific fees based on that value.