Guideline Value for Green Land Avenue

Green Land Avenue guideline value

The current guideline value of Green Land Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Green Land Avenue has changed

The guideline value for Green Land Avenue has undergone several revisions over the years. The earliest recorded figure is from 2002, when the guideline value was Rs 235 per sq.ft. This figure increased to Rs 255 per sq.ft in 2003, marking a change of +9%. The value saw a significant rise to Rs 700 per sq.ft in 2007, reflecting an increase of +175%. In 2012, the guideline value was Rs 2,500 per sq.ft, which was a decrease of -33% from the previous revision. The value then increased to Rs 1,675 per sq.ft in 2017, a jump of +49% from 2012. The most recent revision in 2023 set the guideline value at Rs 2,500 per sq.ft, which was an increase of +8% from 2017. The current value of Rs 2,700 per sq.ft in 2024 represents an increase of +8% from 2023.

Overall, from 2002 to 2024, the guideline value has increased by +1049%. There are no revisions with figures missing for Green Land Avenue in the register.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Green Land Avenue is below this median.

• Green Avenue: Rs 2,700 per sq.ft (2024)
• Harbour Colony: Rs 4,400 per sq.ft (2024)
• Haridoss 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Haridoss 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Haridoss Street: Rs 3,300 per sq.ft (2024)
• Hi-Tech City: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Green Land Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. It is important to note that the 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 Land Avenue?

The Sub Registrar Office that covers Green Land Avenue is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role when purchasing or selling property in Kolathur. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware that the guideline value is an essential factor in calculating these fees.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property transaction.

Frequently asked questions

What is the current guideline value of Green Land Avenue?

The current guideline value of Green Land Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 235 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +1049% over this period.

What is the classification of Green Land Avenue?

Green Land Avenue is classified as Residential Class II Type - I under the Sembiam SRO.

Where can I find the Sub Registrar Office for Green Land Avenue?

The Sub Registrar Office for Green Land Avenue is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Green Land Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.