Guideline Value for GREEN SQUARE CITY

Green Square City guideline value

The current guideline value of Green Square City, located in Vengambakkam village, is Rs 2,970 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Commercial Class I Type - I.

How the guideline value of Green Square City has changed

The guideline value for Green Square City has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,700 per sq.ft, which was then increased by 10% to Rs 2,970 per sq.ft in the 2024 revision.

This change reflects a notable increase in the guideline value, moving from Rs 2,700 per sq.ft in 2023 to Rs 2,970 per sq.ft in 2024. This increase signifies a shift in the valuation of properties in this area.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Green Square City is above this median, indicating a higher valuation compared to other streets in the village.

• Indira Gandhi Nagar: Rs 440 per sq.ft (2024)
• Indira Gandhi Street: Rs 440 per sq.ft (2024)
• Jagajeevan Ram Street: Rs 550 per sq.ft (2024)
• Jayapaul Street: Rs 550 per sq.ft (2024)
• First Cross Street: Rs 550 per sq.ft (2024)
• First Cross Road: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Green Square City

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total fees to Rs 2,67,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Green Square City?

The Sub Registrar Office that covers Green Square City is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Vengambakkam

The guideline value is a crucial factor in property transactions in Vengambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Green Square City?

The current guideline value of Green Square City is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,970 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017.

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

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900, and the registration fee would be Rs 59,400, totaling Rs 2,67,300. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for transactions in Green Square City?

The Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, is the office that covers Green Square City. This office handles all property registrations in the area.

What is the significance of the guideline value in property transactions?

The guideline value serves as the minimum value for property registration and is used to calculate the stamp duty and registration fees. It ensures that the government receives appropriate revenue from property transactions in Vengambakkam.