Guideline Value for Green City

Green City guideline value

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

How the guideline value of Green City has changed

The guideline value for Green City has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 268 per sq.ft. This figure remained unchanged in the 2023 revision, where it was also set at Rs 400 per sq.ft. The most recent revision in 2024 has kept the guideline value at Rs 400 per sq.ft, showing no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, there has also been a 49% increase, reflecting the steady valuation of the property in this area. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is equal to the current guideline value of 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 100 per sq.ft (2024)
• Ilangaliyamman Koil Street: Rs 400 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 would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

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 further assistance.

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

The guideline value is a crucial factor in property transactions in Mevaloorkuppam B. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees applicable to the transaction.

At the time of registration, the guideline value ensures that the property is assessed fairly, and it helps in preventing undervaluation. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Green City?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2023 to 2024, showing no change. However, from 2017 to 2023, it increased by 49% from Rs 268 per sq.ft to Rs 400 per sq.ft.

What are the guideline values of other streets in Mevaloorkuppam B?

Other streets in Mevaloorkuppam B have a range of guideline values. For example, Golden Growvilla and Happy Land Colony have a guideline value of Rs 400 per sq.ft, while Gangaiyamman Koil Street is valued at Rs 100 per sq.ft.

What is the stamp duty rate in Green City?

The stamp duty rate for property transactions in Green City is set at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Green City?

The Sub Registrar Office for Green City is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can visit this office for registration-related services.