Guideline Value for Green Park Avenue

Green Park Avenue guideline value

The current guideline value for Green Park Avenue in Kayirambedu village is Rs 700 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Special Type - II.

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 2007 revision recorded a value of Rs 210 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision. However, from 2012 to 2017, the value decreased by 33% to Rs 469 per sq.ft. The subsequent revisions from 2017 to 2023 saw a substantial increase of 49%, bringing the value back to Rs 700 per sq.ft, where it has remained through the 2024 revision.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. The guideline value has remained stable at Rs 700 per sq.ft from the 2023 revision to the current 2024 revision, indicating no change in value during this period.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 400 to Rs 3,550 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, making Green Park Avenue's 2024 figure equal to this median.

• Gowtham Nagar: Rs 700 per sq.ft (2024)
• Guru Avenue: Rs 700 per sq.ft (2024)
• Guru Ganesh Nagar: Rs 800 per sq.ft (2024)
• Good Will Nagar: Rs 800 per sq.ft (2024)
• Iayyappa Gardan: Rs 700 per sq.ft (2024)
• Inba Avenue: Rs 2,389 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 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost for these charges to Rs 63,000. It is important to note that 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 information.

Which Sub Registrar Office covers Green Park Avenue?

The Sub Registrar Office that covers Green Park Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kayirambedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Green Park Avenue?

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

How has the guideline value changed over the years?

The guideline value has varied over the years, with significant changes noted from Rs 210 per sq.ft in 2007 to Rs 700 per sq.ft in 2012. The value remained stable at Rs 700 per sq.ft from 2012 to 2017, decreased to Rs 469 per sq.ft, and then returned to Rs 700 per sq.ft in 2023 and 2024.

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

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000, and the registration fee would be Rs 14,000, totaling Rs 63,000. These charges are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Green Park Avenue?

The Chengleput Joint II Sub Registrar Office covers Green Park Avenue, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the median guideline value in Kayirambedu?

The median guideline value for the 120 streets in Kayirambedu is Rs 700 per sq.ft. Green Park Avenue's guideline value matches this median figure.