Guideline Value for Green Housing Phase - III

Green Housing Phase - III guideline value

The current guideline value of Green Housing Phase - III is Rs 300 per sq.ft, effective from 1 July 2024. This property is located in Vadakal village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Green Housing Phase - III has changed

Over the years, the guideline value for Green Housing Phase - III has seen several revisions. The earliest available figure is from 2007, where it was Rs 175 per sq.ft. This increased to Rs 300 per sq.ft in 2012, remained the same in 2023, and is set to stay at Rs 300 per sq.ft in 2024. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2012 to 2017, the value decreased by 33% to Rs 201 per sq.ft. However, between 2017 and 2023, it increased by 49%, returning to Rs 300 per sq.ft. Overall, from 2007 to 2024, the guideline value has risen by 71%.

Guideline values in Vadakal

In Vadakal, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 800 per sq.ft. The guideline value for Green Housing Phase - III is equal to the median value of Rs 300 per sq.ft. Below are the guideline values for other streets in Vadakal:

• Green Park: Rs 300 per sq.ft (2024)
• Ganesh Nagar: Rs 500 per sq.ft (2024)
• Iswaryam Nagar: Rs 800 per sq.ft (2024)
• Jemi Garden Phase III: Rs 400 per sq.ft (2024)
• Kaivalyam Nagar: Rs 500 per sq.ft (2024)
• Kalaignar Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Green Housing Phase - III

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. 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 Housing Phase - III?

The Sub Registrar Office that covers Green Housing Phase - III 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 Vadakal

The guideline value is a crucial factor in property transactions in Vadakal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. When registering a property, the guideline value or the sale price, whichever is higher, is considered for calculating these fees.

Understanding the guideline value helps both buyers and sellers in making informed decisions during property transactions. It ensures that the registration process is transparent and that the appropriate fees are collected based on established values.

Frequently asked questions

What is the current guideline value for Green Housing Phase - III?

The current guideline value for Green Housing Phase - III is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, starting from Rs 175 per sq.ft in 2007, rising to Rs 300 per sq.ft in 2012, dropping to Rs 201 per sq.ft in 2017, and returning to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Green Housing Phase - III?

Green Housing Phase - III is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Green Housing Phase - III?

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

How is the stamp duty calculated for properties in Vadakal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000, resulting in a stamp duty of Rs 21,000.