Guideline Value for Green Garden

Green Garden guideline value

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

How the guideline value of Green Garden has changed

In the 2017 revision, the guideline value for Green Garden was Rs 167 per sq.ft. This value remained unchanged in the 2023 revision, which also recorded Rs 250 per sq.ft. With the 2024 revision, the guideline value again stands at Rs 250 per sq.ft, reflecting no change from the previous year.

From 2017 to 2023, there was a 50% increase in the guideline value, and overall, from 2017 to 2024, the increase is also 50%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Green Garden is equal to 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, totaling 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 more information.

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

The guideline value is a crucial factor during property registration in Somangalam_B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal worth of the property. It is essential for buyers to be aware of this value to avoid overpaying or underpricing their property during transactions.

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 as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 50%, remaining at Rs 250 per sq.ft in both the 2023 and 2024 revisions. There were no figures available for the years 2002, 2003, 2007, and 2012.

What is the land classification for Green Garden?

Green Garden is classified as Residential Class II Type - I, indicating its suitability for residential development.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum price for property registration, impacting the stamp duty and registration fees. Buyers should be aware of this value to ensure fair pricing during property transactions.

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.