Guideline Value for Green Avenue Extension

Green Avenue Extension guideline value

The current guideline value of Green Avenue Extension in Salamangalam village, under the Sriperumpudur SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Green Avenue Extension has changed

The guideline value for Green Avenue Extension has undergone several revisions over the years. In 2012, the value was Rs 550 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 368 per sq.ft. This was a decrease of 33%. The value then increased significantly to Rs 550 per sq.ft in 2023, marking a 49% rise from the 2017 figure. The 2024 revision has maintained the value at Rs 550 per sq.ft, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft. The median value is Rs 500 per sq.ft, placing Green Avenue Extension above this median.

• Green Avenue: Rs 550 per sq.ft (2024)
• Green City: Rs 550 per sq.ft (2024)
• Green City Extension: Rs 550 per sq.ft (2024)
• Green City Extension -II: Rs 550 per sq.ft (2024)
• Green City Extension -III: Rs 550 per sq.ft (2024)
• Gokul Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Green Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total charges together Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Green Avenue Extension?

The Sub Registrar Office that covers Green Avenue Extension is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Salamangalam. When registering a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. However, the stamp duty is charged on the higher of the two, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Green Avenue Extension?

The current guideline value of Green Avenue Extension is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 550 per sq.ft since 2012, dropped to Rs 368 per sq.ft in 2017, and returned to Rs 550 per sq.ft in 2023 and 2024, with a 49% increase from 2017 to 2023.

What is the land classification for Green Avenue Extension?

Green Avenue Extension is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for Green Avenue Extension?

The Sub Registrar Office for Green Avenue Extension is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Green Avenue Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at 7%.