Guideline Value for Green City

Green City guideline value

The current guideline value of Green City in Mevaloorkuppam village under the Sriperumpudur SRO is Rs 400 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class II Type - I.

How the guideline value of Green City has changed

The guideline value for Green City has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in the 2012 revision. However, it decreased to Rs 268 per sq.ft in the 2017 revision before stabilizing at Rs 400 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a significant increase of 49%, while the value decreased by 33% from 2012 to 2017. The overall change from 2007 to 2024 shows a 100% increase, reflecting the fluctuations in the guideline value over the years.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the current guideline value for Green City.

• Golden Growvilla: Rs 400 per sq.ft (2024)
• Golden Castle: Rs 400 per sq.ft (2024)
• Happy Land Colony: Rs 400 per sq.ft (2024)
• Harini Nagar: Rs 300 per sq.ft (2024)
• Gangaiyamman Koil Street: Rs 200 per sq.ft (2024)
• Gandhi Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Green City

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty is calculated at 7%, which totals Rs 28,000, while the registration fee is charged at 2%, amounting to Rs 8,000. Together, the total cost for stamp duty and registration fee is Rs 36,000. 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 City?

The Sub Registrar Office that covers Green City 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 Mevaloorkuppam

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

When a property is registered, the guideline value helps ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Green City?

The current guideline value of Green City in Mevaloorkuppam is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed through several revisions, with the most recent being Rs 400 per sq.ft in both 2023 and 2024. It was Rs 268 per sq.ft in 2017, Rs 400 per sq.ft in 2012, and Rs 200 per sq.ft in 2007.

What is the stamp duty and registration fee for property in Green City?

The stamp duty for property in Green City is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for stamp duty and registration fee is Rs 36,000.

Which Sub Registrar Office covers Green City?

The Sriperumpudur Sub Registrar Office covers Green City, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification for Green City?

Green City is classified under Residential Class II Type - I, which indicates the zoning and permissible uses for the land in this area.