Guideline Value for GREENWAYS ROAD EXTENSION

Greenways Road Extension guideline value

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

How the guideline value of Greenways Road Extension has changed

The guideline value for Greenways Road Extension has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 17,600 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 16,000 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 10,720 per sq.ft, marking a significant increase of 49% from the 2017 figure to the 2023 figure. The 2012 revision also had a value of Rs 16,000 per sq.ft, which was a decrease of 33% compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore village, 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. Greenways Road Extension's 2024 figure of Rs 17,600 per sq.ft is notably above this median.

• Greenways Lane: 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 Road Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value amounts to Rs 1,76,00,000. The stamp duty is charged at 7%, resulting in Rs 12,32,000, and the registration fee at 2% amounts to Rs 3,52,000. Together, the total cost for stamp duty and registration fee is Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Greenways Road Extension?

The Sub Registrar Office that covers Greenways Road Extension is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Mylapore. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

When selling property, the guideline value can influence the selling price and the overall transaction process. It is advisable for both buyers and sellers to familiarize themselves with the current guideline values to ensure a smooth transaction.

Frequently asked questions

What is the current guideline value of Greenways Road Extension?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 16,000 per sq.ft in 2023 to Rs 17,600 per sq.ft in 2024, a 10% increase. From 2017 to 2023, it rose by 49% from Rs 10,720 per sq.ft to Rs 16,000 per sq.ft.

What is the classification of Greenways Road Extension?

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

Where can I find the Mylapore Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft property at Rs 17,600 per sq.ft, the total guideline value would be Rs 1,76,00,000.