Guideline Value for Green Park Avenue

Green Park Avenue guideline value

The current guideline value of Green Park Avenue in Padappai village, under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Green Park Avenue has changed

The guideline value for Green Park Avenue has seen several revisions over the years. The 2017 revision recorded a value of Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value of Green Park Avenue is above this median.

• Hagiyar Nagar: Rs 3,300 per sq.ft (2024)
• Haji Anserdeen Avenue: Rs 3,300 per sq.ft (2024)
• Hamithiya Nagar: Rs 1,320 per sq.ft (2024)
• Haritha Nagar: Rs 830 per sq.ft (2024)
• Hasan Nagar: Rs 1,320 per sq.ft (2024)
• Hayath Nagar: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Green Park Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Green Park Avenue?

The Sub Registrar Office that covers Green Park Avenue 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 Padappai

The guideline value is a crucial factor during property transactions in Padappai. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as per government standards. This is essential for legal compliance and for the protection of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Green Park Avenue?

The current guideline value of Green Park Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the registration office for Green Park Avenue?

The registration office for Green Park Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the stamp duty and registration fees for properties in Green Park Avenue?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

How do guideline values affect property transactions?

Guideline values are used to calculate the stamp duty and registration fees during property transactions, ensuring that the property is valued according to government standards.