Guideline Value for Green Acres

Green Acres guideline value

The current guideline value of Green Acres in Pammathukulam village is Rs 660 per sq.ft, effective from 1 July 2024. This property falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Green Acres has changed

Over the years, the guideline value of Green Acres has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, this figure dropped to Rs 402 per sq.ft in 2017. The 2023 revision raised it to Rs 600 per sq.ft, and the most recent revision in 2024 has set it at Rs 660 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, the value increased by 100% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The jump from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Pammathukulam

Pammathukulam village has 101 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft. The median value for these streets is Rs 550 per sq.ft, placing Green Acres above this median.

• Grand City Phase-I: Rs 660 per sq.ft (2024)
• Grand City: Rs 660 per sq.ft (2024)
• Green Park: Rs 330 per sq.ft (2024)
• Green Park Chennai Meadows: Rs 330 per sq.ft (2024)
• Indhra Nagar: Rs 550 per sq.ft (2024)
• G.K. City: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Green Acres

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. Please 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 details.

Which Sub Registrar Office covers Green Acres?

The Green Acres property is covered by the Redhills Sub Registrar Office located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial implications involved in the transaction. It is essential to consider the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Green Acres?

The current guideline value of Green Acres is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the land classification for Green Acres?

Green Acres is classified as Residential Class I Type - I under the Redhills SRO.

What are the stamp duty and registration fees for a property in Green Acres?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

Which office handles registrations for properties in Pammathukulam?

The Redhills Sub Registrar Office handles registrations for properties in Pammathukulam, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.