Guideline Value for Green Park

Green Park guideline value

The current guideline value of Green Park in Thiruverkadu village, under the Kunrathur SRO, is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Green Park has changed

The guideline value for Green Park has undergone several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which saw a significant increase to Rs 1,400 per sq.ft in 2012. However, this figure dropped to Rs 938 per sq.ft in 2017. By 2023, the guideline value rose to Rs 1,400 per sq.ft, and the most recent revision in 2024 set it at Rs 1,540 per sq.ft.

From 2017 to 2023, there was a 49% increase in the guideline value. The 2023 to 2024 revision saw a 10% rise. Notably, the jump from 2007 to 2012 was a remarkable 460%, and overall, from 2007 to 2024, the guideline value has increased by 516%. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median value is Rs 1,540 per sq.ft, which is equal to the guideline value for Green Park.

• Jagadambal Nagar: Rs 1,540 per sq.ft (2024)
• Ganapathy Nagar to Sri Devi Nagar Link Road: Rs 1,540 per sq.ft (2024)
• Ganapathy Nagar MainRoad: Rs 1,540 per sq.ft (2024)
• Ganapathy Nagar 2nd Cross: Rs 1,540 per sq.ft (2024)
• Ganapathy Nagar 1st Cross: Rs 1,540 per sq.ft (2024)
• Gajendra Maestri Nagar: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Green Park

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, while the registration fee at 2% would be Rs 30,800, making the total Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Green Park?

The Sub Registrar Office that covers Green Park is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Thiruverkadu, as it determines the minimum value at which a property can be registered. Buyers must pay stamp duty and registration fees based on this value, which ensures transparency in property dealings.

When selling a property, the guideline value serves as a reference point for pricing and helps in assessing the legalities involved in the sale transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Green Park?

The current guideline value of Green Park is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, marking an overall increase of 516% since 2007.

What is the land classification of Green Park?

Green Park is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,38,600.

Where is the Sub Registrar Office for Green Park located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, covering Green Park and its surrounding areas.