Guideline Value for Green Paradise

Green Paradise guideline value

The current guideline value of Green Paradise in Naduveerapattu village is Rs 660 per sq.ft, effective from 1 July 2024. This property falls under the Padappai SRO and is classified as Residential Special Type - I.

How the guideline value of Green Paradise has changed

The guideline value for Green Paradise has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in 2017. Following this, the value increased to Rs 600 per sq.ft in 2023, and most recently, it rose to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. When looking at the overall change from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Naduveerapattu

Naduveerapattu village has a total of 96 streets under the Padappai SRO, with 2024 guideline values 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 current guideline value of Green Paradise.

• Green Paradise Part I and II: Rs 660 per sq.ft (2024)
• Green Paradise Phase - II: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total 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, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Green Paradise?

The Sub Registrar Office that covers Green Paradise 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 is a crucial factor in property transactions in Naduveerapattu. It serves as a benchmark for determining the minimum value of a property during registration. Buyers and sellers should be aware that the guideline value will influence the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is registered at a fair value, reflecting the current market conditions as assessed by the government. This process helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Green Paradise?

The current guideline value of Green Paradise is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Green Paradise?

For a 1,000 sq.ft property at the current guideline value, the total fees would amount to Rs 59,400, which includes a stamp duty of Rs 46,200 and a registration fee of Rs 13,200.

Which office handles property registrations in Green Paradise?

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

What is the significance of the guideline value in property transactions?

The guideline value is used as a benchmark for determining the minimum value of a property during registration, which influences the applicable stamp duty and registration fees. It ensures transparency in property transactions.