Guideline Value for GREENARY FARMS

Greenary Farms guideline value

The current guideline value of Greenary Farms in Polambakkam village is Rs 400 per sq.ft, effective from 1 July 2024. This property falls under the Madurandakam SRO and is classified as Mixed Special Type - I.

How the guideline value of Greenary Farms has changed

The guideline value for Greenary Farms has undergone several revisions over the years. In 2012, the value was set at Rs 400 per sq.ft, which remained unchanged in the following revision in 2017, where it dropped to Rs 268 per sq.ft. The value then increased significantly by 49% to Rs 400 per sq.ft in 2023, and it has remained the same in the 2024 revision.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. When considering the overall change from 2012 to 2024, the guideline value has seen no net change, remaining at Rs 400 per sq.ft throughout this period.

Guideline values in Polambakkam

In Polambakkam, there are 14 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 200 per sq.ft. Greenary Farms is positioned above this median, reflecting its current guideline value.

• Kannaguru Nagar: Rs 275 per sq.ft (2024)
• M.M.Nagar: Rs 150 per sq.ft (2024)
• Priya Garden: Rs 275 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 103 per sq.ft (2024)
• Sri Jaya Avenue: Rs 275 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Greenary Farms

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, charged at 7%, would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Greenary Farms?

The Sub Registrar Office that covers Greenary Farms is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Polambakkam, the guideline value is a crucial factor as it determines the stamp duty and registration fees applicable during the transaction. The guideline value is set by the Registration Department and is used as a benchmark for property transactions within the area.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall costs associated with property registration. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value for Greenary Farms?

The current guideline value for Greenary Farms 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 various changes, with the most recent revision in 2024 maintaining the value at Rs 400 per sq.ft, consistent with the 2023 revision. The value increased by 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What are the other streets in Polambakkam with their guideline values?

In Polambakkam, other streets have varying guideline values. For example, Kannaguru Nagar has a value of Rs 275 per sq.ft, while Sri Lakshmi Nagar is at Rs 100 per sq.ft.

What fees are associated with buying property in Greenary Farms?

When purchasing property in Greenary Farms, buyers must pay stamp duty at 7% of the guideline value and a registration fee at 2%. For a 1,000 sq.ft plot, these fees would total Rs 36,000.

Where is the nearest Sub Registrar Office for Greenary Farms?

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