Guideline Value for GREEN PARK

Green Park guideline value

The current guideline value of Green Park, located in Kendiracherry village under the Madurandakam SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification.

How the guideline value of Green Park has changed

Over the years, the guideline value for Green Park has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft. Following this, the 2023 revision brought it back to Rs 100 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

In terms of percentage changes, the value increased by 49% from the 2017 revision to the 2023 revision, while it decreased by 33% from the 2012 revision to the 2017 revision. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 100 per sq.ft.

Guideline values in Kendiracherry

Kendiracherry village has 17 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 100 per sq.ft. The guideline value for Green Park matches this median.

• Iyshwarya city: Rs 100 per sq.ft (2024)
• Iyshwarya City II: Rs 100 per sq.ft (2024)
• Iyshwarya City III: Rs 100 per sq.ft (2024)
• Iyshwarya City IV: Rs 100 per sq.ft (2024)
• Dhanam Nagar: Rs 100 per sq.ft (2024)
• Lake View: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Green Park

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 at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, resulting in a total of Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Green Park?

The Green Park area falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, 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 Kendiracherry

The guideline value plays a crucial role in the registration process when buying or selling property in Kendiracherry. It serves as a benchmark for determining the stamp duty and registration fees applicable on the transaction, ensuring that the costs are calculated based on the established rates.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the stamp duty and registration fees. This ensures that all transactions are registered at a value that reflects the current market standards set by the registration department.

Frequently asked questions

What is the current guideline value of Green Park?

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

How has the guideline value changed over the years?

The guideline value has remained unchanged at Rs 100 per sq.ft since the 2023 revision. It increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023, and it was Rs 100 per sq.ft in the 2012 revision as well.

What is the land classification for Green Park?

Green Park is classified as Residential Class I Type - I, which indicates the type of development and usage permitted in this area.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Green Park?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 1,00,000 would incur a stamp duty of Rs 7,000 at 7% and a registration fee of Rs 2,000 at 2%, totaling Rs 9,000.