Guideline Value for Green Garden

Green Garden guideline value

The current guideline value of Green Garden, located in Somangalam village under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Green Garden has changed

Over the years, the guideline value of Green Garden has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, where it also stood at Rs 250 per sq.ft. The 2017 revision recorded a lower value of Rs 167 per sq.ft, indicating a decrease of 33% from the 2012 figure. The 2024 revision has again set the value at Rs 250 per sq.ft, showing no change from the previous year.

In summary, from 2012 to 2024, the overall guideline value has remained stable at Rs 250 per sq.ft, while the change from 2017 to 2023 was an increase of 50%. Notably, the register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. Green Garden's guideline value is below this median.

• Hanuman Garden: Rs 200 per sq.ft (2024)
• Giriam Avenue: Rs 500 per sq.ft (2024)
• Hi-tech city Extension: Rs 200 per sq.ft (2024)
• Indira Nagar: Rs 400 per sq.ft (2024)
• Indira Nagar Part II: Rs 200 per sq.ft (2024)
• Ganapathy Farm Lands: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Green Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total charges to Rs 22,500. 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 more details.

Which Sub Registrar Office covers Green Garden?

The Sub Registrar Office that covers Green Garden 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 Somangalam

The guideline value is a crucial factor in the registration process when buying or selling property in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two amounts is used to calculate the necessary fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the property transaction.

Frequently asked questions

What is the current guideline value of Green Garden?

The current guideline value of Green Garden is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained Rs 250 per sq.ft in the revisions of 2012, 2023, and 2024. It decreased to Rs 167 per sq.ft in 2017 and increased by 50% from 2017 to 2023.

What is the land classification of Green Garden?

Green Garden is classified as Residential Class II Type - I, which indicates its suitability for residential developments.

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

The Sub Registrar Office for Green Garden is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Green Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 2,50,000, the stamp duty at 7% would amount to Rs 17,500.