Guideline Value for Green Park

Green Park guideline value

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

How the guideline value of Green Park has changed

Since the 2017 revision, the guideline value for Green Park has seen a significant change. The 2017 revision set the value at Rs 201 per sq.ft, which remained unchanged in the 2023 revision, still at Rs 300 per sq.ft. However, from 2023 to 2024, there was no change, maintaining the value at Rs 300 per sq.ft. The overall change from 2017 to 2024 is an increase of 49%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. This means that the guideline value has been consistent at Rs 300 per sq.ft since the 2023 revision, reflecting a stable valuation in recent years.

Guideline values in Vadakal_B

In Vadakal_B, there are 34 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,900 per sq.ft. The median value is Rs 300 per sq.ft, which is equal to the guideline value of Green Park. Below are the guideline values for other streets in Vadakal_B:

• 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 at 2% amounts to Rs 6,000. Together, the total cost for these fees 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Green Park?

The Green Park area falls under the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Vadakal_B. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value is assessed based on various factors, including the location and type of property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair valuation, which helps in maintaining transparency in the real estate market. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

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 for Green Park has remained at Rs 300 per sq.ft since the 2023 revision, with an increase of 49% from Rs 201 per sq.ft in 2017.

What is the land classification for Green Park?

Green Park is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Green Park?

The Sub Registrar Office covering Green Park is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Green Park?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.