Guideline Value for Green City Extension -II

Green City Extension -II guideline value

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

How the guideline value of Green City Extension -II has changed

In the 2012 revision, the guideline value was set at Rs 550 per sq.ft. This figure remained unchanged in the subsequent revisions until 2023, where it was still Rs 550 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, as the value was Rs 368 per sq.ft in 2017. The register has no figure for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 550 per sq.ft, indicating stability in this period.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Green City Extension -II is above this median.

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

Stamp duty and registration fee for property in Green City Extension -II

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, making the total charges Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Green City Extension -II?

The Green City Extension -II is covered by 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 is a crucial factor in property transactions, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable during the transaction.

When registering a property in Salamangalam, the guideline value ensures transparency and standardization in property valuations. It helps in calculating the required fees and ensures that the property is valued fairly according to the local market conditions.

Frequently asked questions

What is the current guideline value of Green City Extension -II?

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

How has the guideline value changed over the years?

The guideline value has experienced fluctuations, with the 2012 value at Rs 550 per sq.ft, decreasing to Rs 368 per sq.ft in 2017, and then returning to Rs 550 per sq.ft in 2023 and 2024.

What is the land classification for Green City Extension -II?

Green City Extension -II falls under the Residential Special Type - I land classification, which is designated for residential purposes.

What are the stamp duty and registration fees for properties in Green City Extension -II?

The stamp duty is charged at 7%, and the registration fee is at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total charges would be Rs 49,500.

Which office handles registrations for Green City Extension -II?

The Sriperumpudur Sub Registrar Office is responsible for handling registrations for Green City Extension -II, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.