Guideline Value for Green Hills Phase - I

Green Hills Phase - I guideline value

The current guideline value of Green Hills Phase - I is Rs 1,320 per sq.ft, effective from 1 July 2024. This property is located in Nedunkumdram village under the Tambaram Joint 1 SRO, classified as Residential Special Type - III.

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

The guideline value for Green Hills Phase - I has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and most recently to Rs 1,320 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Nedunkumdram

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

• Green Hills Phase - II: 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 - I

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, bringing the total cost for these fees to Rs 1,18,800. It is important to note that 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 Hills Phase - I?

The Sub Registrar Office that covers Green Hills Phase - I 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Nedunkumdram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the costs are aligned with the official valuations set by the government.

When buying or selling property, the guideline value helps in calculating the overall expenses involved in the transaction. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, which can influence the total financial commitment required for the purchase.

Frequently asked questions

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

The current guideline value of Green Hills Phase - I 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

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

Green Hills Phase - I is classified as Residential Special Type - III.

What are the stamp duty and registration fees for property in Green Hills Phase - I?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Green Hills Phase - I?

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