Guideline Value for Green Park

Green Park guideline value

The current guideline value of Green Park, located in Vadakal village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Green Park has changed

The guideline value for Green Park has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 75 per sq.ft. This increased to Rs 300 per sq.ft in 2012, marking a significant rise of 300%. However, in 2017, the value adjusted to Rs 201 per sq.ft, a decrease of 33%. The value remained at Rs 300 per sq.ft during the 2023 revision and continues to hold the same value in the current 2024 revision, reflecting no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. Notably, the 2003 and 2002 revisions do not have figures recorded for this street in the register.

Guideline values in Vadakal

In Vadakal village, there are 31 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, which aligns with the current value for Green Park.

• Green Housing Phase - III: Rs 300 per sq.ft (2024)
• Ganesh Nagar: Rs 500 per sq.ft (2024)
• Iswaryam Nagar: Rs 800 per sq.ft (2024)
• Jemi Garden Phase III: Rs 400 per sq.ft (2024)
• Kaivalyam Nagar: Rs 500 per sq.ft (2024)
• Kalaignar Nagar: Rs 200 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty is charged at 7%, which equals Rs 21,000, and the registration fee is 2%, amounting to Rs 6,000. Therefore, the total cost for stamp duty and registration fees together is Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Green Park?

The Green Park area falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Vadakal, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used as a benchmark to calculate these fees, ensuring that they reflect the official value of the property as per the local government regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it can influence the overall transaction costs. Understanding the guideline value helps in making informed decisions during property transactions in the area.

Frequently asked questions

What is the current guideline value of Green Park?

The current guideline value of Green Park is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, before stabilizing at Rs 300 per sq.ft in both 2023 and 2024.

What is the median guideline value for streets in Vadakal?

The median guideline value for streets in Vadakal is Rs 300 per sq.ft, which is the same as the current guideline value for Green Park.

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

For a property valued at Rs 3,00,000, the total stamp duty is Rs 21,000 and the registration fee is Rs 6,000, leading to a combined cost of Rs 27,000 for stamp duty and registration fees.

Which office handles property registrations for Green Park?

The Sriperumpudur Sub Registrar Office handles property registrations for Green Park, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.