Guideline Value for GREENWAYS LANE

Greenways Lane guideline value

The current guideline value of Greenways Lane in Mylapore village, under the Mylapore SRO, is Rs 17,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Greenways Lane has changed

The guideline value for Greenways Lane has seen significant changes over the years. In 2002, the value was Rs 1,220 per sq.ft, which increased to Rs 1,355 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose dramatically to Rs 1,540 per sq.ft, a change of 14%. The most notable jump occurred between 2007 and 2012, where the value increased by 939% to Rs 16,000 per sq.ft. This figure remained unchanged until the 2023 revision, where it stayed at Rs 16,000 per sq.ft, and then rose by 10% to Rs 17,600 per sq.ft in 2024.

It is important to note that there is no figure for Greenways Lane in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 1343%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Greenways Lane is significantly above this median.

• Greenways Road Extension: Rs 17,600 per sq.ft (2024)
• Greenways Road (P.S. Kumaraswamy Salai): Rs 17,600 per sq.ft (2024)
• Gurukal Colony: Rs 3,300 per sq.ft (2024)
• Gurupuram: Rs 8,800 per sq.ft (2024)
• Gururaja Puram: Rs 8,800 per sq.ft (2024)
• Gowdia Madam Salai: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Greenways Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value is Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, bringing the total to Rs 15,84,000. It is important to note that the 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 Greenways Lane?

The Sub Registrar Office that covers Greenways Lane is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Mylapore, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Greenways Lane?

The current guideline value of Greenways Lane is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,220 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, marking an overall increase of 1343%.

What is the land classification for Greenways Lane?

Greenways Lane is classified as Residential Special Type - III under the Mylapore SRO.

What are the stamp duty rates for property in Greenways Lane?

The stamp duty for property transactions in Greenways Lane is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Greenways Lane located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.