Guideline Value for Green Bay Layout

Green Bay Layout guideline value

The current guideline value of Green Bay Layout in Pazhanthandalam village, under the Padappai SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Green Bay Layout has changed

The guideline value for Green Bay Layout has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in 2017. The 2023 revision increased the value to Rs 700 per sq.ft, and the most recent revision in 2024 has set it at Rs 770 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between revisions have been significant. From 2017 to 2023, the value increased by 49%. However, the value dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pazhanthandalam

Pazhanthandalam has 57 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,980 per sq.ft, with a median value of Rs 1,100 per sq.ft. Green Bay Layout's current guideline value is below this median.

• G.T.Enclave: Rs 1,100 per sq.ft (2024)
• Guru Nagar: Rs 1,100 per sq.ft (2024)
• Kalaimagal Nagar: Rs 770 per sq.ft (2024)
• Kalaimagal Nagar and Extn 1 to 6: Rs 770 per sq.ft (2024)
• Kalaimagal Nagar Part - I: Rs 440 per sq.ft (2024)
• Kalaimagal Nagar Part-II: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Green Bay Layout

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Green Bay Layout?

The Sub Registrar Office that covers Green Bay Layout is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Pazhanthandalam. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the guideline value serves as a benchmark. Buyers and sellers must consider this value as it influences the overall cost of the transaction, including the fees that need to be paid during registration.

Frequently asked questions

What is the current guideline value of Green Bay Layout?

The current guideline value of Green Bay Layout is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 700 per sq.ft to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024. The most significant increase occurred from 2017 to 2023, with a 49% rise.

What is the land classification for Green Bay Layout?

Green Bay Layout is classified as Residential Special Type - II. This classification affects the guideline value and other regulations pertaining to the property.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 69,300. This includes a stamp duty of Rs 53,900 and a registration fee of Rs 15,400.

Which Sub Registrar Office covers the registration for Green Bay Layout?

The Padappai Sub Registrar Office covers the registration for Green Bay Layout. It is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.