Guideline Value for Green Land

Green Land guideline value

The current guideline value of Green Land in Kolapakkam village is Rs 1,000 per sq.ft, as per the 2023 revision. This area falls under the Gooduvancheri SRO and is classified as Commercial Class I Type - II.

How the guideline value of Green Land has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the guideline value was Rs 150 per sq.ft, which increased dramatically to Rs 1,000 per sq.ft in 2012. However, it then dropped to Rs 670 per sq.ft in 2017. The most recent revision in 2023 brought the guideline value back up to Rs 1,000 per sq.ft.

From 2017 to 2023, there was an increase of 49%. The change from 2012 to 2017 represented a decrease of 33%. Notably, the overall increase from 2007 to 2023 is a substantial 567%. The register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Kolapakkam

While specific village figures are not provided, Green Land is part of Kolapakkam under the Gooduvancheri SRO. Unfortunately, no other streets in Kolapakkam are listed with their rates.

Stamp duty and registration fee for property in Green Land

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total charges to Rs 90,000. 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 Land?

The Sub Registrar Office that covers Green Land is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Kolapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with the registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Green Land?

The current guideline value of Green Land in Kolapakkam is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and finally returned to Rs 1,000 per sq.ft in 2023.

What is the registration fee for properties in Green Land?

The registration fee for properties in Green Land is calculated at 2% of the guideline value. For example, a property valued at Rs 10,00,000 would incur a registration fee of Rs 20,000.

Where is the Gooduvancheri SRO located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is generally 7% of the guideline value or sale price, whichever is higher. This is an important cost to consider when buying or selling property.