Guideline Value for Green Hills Phase - II

Green Hills Phase - II guideline value

The current guideline value of Green Hills Phase - II is Rs 1,320 per sq.ft. This property is located in Nedunkumdram village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - III.

How the guideline value of Green Hills Phase - II has changed

The guideline value for Green Hills Phase - II has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft. However, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and then rose again to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. Following that, there was a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nedunkumdram

Nedunkumdram village has a total of 75 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 330 to Rs 5,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the current guideline value of Green Hills Phase - II below the median.

• Green Hills Phase - I: Rs 1,320 per sq.ft (2024)
• Green Hills Phase - IV: Rs 1,320 per sq.ft (2024)
• Home Land Nemra: Rs 3,300 per sq.ft (2024)
• Homeland One: Rs 3,300 per sq.ft (2024)
• Homeland One Phase -5: Rs 2,200 per sq.ft (2024)
• Homeland One Phase - II: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Green Hills Phase - II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, leading to a total of Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Green Hills Phase - II?

The Sub Registrar Office that covers Green Hills Phase - II is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Nedunkumdram. It determines the minimum price 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 serves as a reference point for both parties involved in the transaction. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Green Hills Phase - II?

The current guideline value of Green Hills Phase - II is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being an increase from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for Green Hills Phase - II?

Green Hills Phase - II is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

Where can I find the Sub Registrar Office for Green Hills Phase - II?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059. This office handles property registrations for Green Hills Phase - II.