Guideline Value for Green Paradise Phase - II

Green Paradise Phase - II guideline value

The current guideline value for Green Paradise Phase - II in Naduveerapattu village, under the Padappai SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This classification falls under Residential Special Type - I.

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

In the 2017 revision, the guideline value was Rs 402 per sq.ft. This figure increased significantly to Rs 600 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Naduveerapattu

In Naduveerapattu, there are 96 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 330 to Rs 2,500 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the 2024 figure for Green Paradise Phase - II.

• Green Paradise Part I and II: Rs 660 per sq.ft (2024)
• Green Paradise: Rs 660 per sq.ft (2024)
• Gramani Street: Rs 660 per sq.ft (2024)
• Gurupatham Nagar: Rs 550 per sq.ft (2024)
• Indigo Nagar: Rs 1,320 per sq.ft (2024)
• Indira Nagar: Rs 1,650 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Green Paradise Phase - II?

The Sub Registrar Office covering Green Paradise Phase - II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Naduveerapattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the higher of the guideline value and the sale price is considered for calculating the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value for Green Paradise Phase - II?

The current guideline value for Green Paradise Phase - II is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with an increase from Rs 402 per sq.ft in 2017 to Rs 660 per sq.ft in 2024. This reflects an overall increase of 64% over the seven-year period.

What are the other streets with the same guideline value in Naduveerapattu?

Other streets in Naduveerapattu with the same guideline value of Rs 660 per sq.ft in 2024 include Green Paradise Part I and II and Gramani Street.

What are the stamp duty and registration fees for a property in Green Paradise Phase - II?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200, and the registration fee would be Rs 13,200, totaling Rs 59,400. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for properties in Green Paradise Phase - II?

The Padappai Sub Registrar Office handles registrations for properties in Green Paradise Phase - II. It is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.