Guideline Value for Green Avenue

Green Avenue guideline value

The current guideline value of Green Avenue, located in Kolathur village under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Green Avenue has changed

The guideline value for Green Avenue has seen several revisions over the years. In 2002, the value was Rs 142 per sq.ft, which increased to Rs 154 per sq.ft in 2003. Following this, there was a significant rise to Rs 700 per sq.ft in 2007, and then it jumped to Rs 2,500 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, and it has now reached Rs 2,700 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 8%. Notably, the overall increase from 2002 to 2024 is 1,801%. The register has no figures for the years not listed above.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Green Avenue's 2024 guideline value is below this median.

• Green Land Avenue: Rs 2,700 per sq.ft (2024)
• Harbour Colony: Rs 4,400 per sq.ft (2024)
• Haridoss 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Haridoss 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Haridoss Street: Rs 3,300 per sq.ft (2024)
• Hi-Tech City: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Green Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. 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 further calculations.

Which Sub Registrar Office covers Green Avenue?

The Sub Registrar Office that covers Green Avenue is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Green Avenue?

The current guideline value of Green Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 142 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 1,801% over the years.

What is the land classification of Green Avenue?

Green Avenue is classified as Residential Class II Type - I, indicating its suitability for residential development.

What is the registration office for Green Avenue?

The registration office for Green Avenue is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,89,000.