Guideline Value for Green city Extension

Green city Extension guideline value

The current guideline value of Green city Extension is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Salamangalam village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Green city Extension has changed

Since the 2012 revision, the guideline value for Green city Extension has remained stable at Rs 550 per sq.ft as of 2024. The 2012 revision set the value at Rs 550 per sq.ft, which was a decrease of 33% from the Rs 368 per sq.ft recorded in the 2017 revision. The 2017 revision saw a significant increase of 49% from the previous figure, bringing it to Rs 550 per sq.ft in 2023, where it remained unchanged in the 2024 revision.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Thus, the most recent revisions show a consistent guideline value of Rs 550 per sq.ft from 2012 to 2024, reflecting no overall change during this period.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft. The median guideline value is Rs 500 per sq.ft, placing Green city Extension above this median.

• Green City Extension -II: Rs 550 per sq.ft (2024)
• Green city Extension -III: Rs 550 per sq.ft (2024)
• Green City: Rs 550 per sq.ft (2024)
• Green Avenue Extension: Rs 550 per sq.ft (2024)
• Green Avenue: Rs 550 per sq.ft (2024)
• Gokul Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Green city Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, leading to a total of Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Green city Extension?

The Green city Extension 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 information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Salamangalam, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer and seller must ensure that the sale price is either equal to or greater than the guideline value. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Green city Extension?

The current guideline value of Green city Extension is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 550 per sq.ft since 2012, with a significant increase from Rs 368 per sq.ft in 2017 to Rs 550 per sq.ft in 2023, and it has not changed in the 2024 revision.

What is the land classification for Green city Extension?

Green city Extension is classified as Residential Special Type - I, indicating its designated use for residential purposes.

How is stamp duty calculated for properties in Green city Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 5,50,000 would incur a stamp duty of Rs 38,500 at 7%.

Where can I find the Sub Registrar Office for Green city Extension?

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