Guideline Value for Greenvies Colony

Greenvies Colony guideline value

The current guideline value of Greenvies Colony, located in Mugappair village under the Konnur SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Greenvies Colony has changed

Over the years, the guideline value of Greenvies Colony has seen several revisions. The 2012 revision set the value at Rs 6,500 per sq.ft, which then decreased to Rs 4,355 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 6,500 per sq.ft in 2023, and then rose again to Rs 7,100 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From the 2012 revision to the 2017 revision, there was a notable decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, which matches the current value for Greenvies Colony.

• Hani Colony: Rs 3,800 per sq.ft (2024)
• Govindasamy Street: Rs 5,700 per sq.ft (2024)
• Gopal Nayakkar Nagar: Rs 3,800 per sq.ft (2024)
• Goodwill Apartment: Rs 7,100 per sq.ft (2024)
• Golden George Rathinam Salai: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Vasantha Sreet: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Greenvies Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. 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 information.

Which Sub Registrar Office covers Greenvies Colony?

The Sub Registrar Office that covers Greenvies Colony is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more details, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. 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 sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is in compliance with local regulations. Buyers and sellers should be aware of the current guideline value to accurately estimate their costs during the property transaction process.

Frequently asked questions

What is the current guideline value of Greenvies Colony?

The current guideline value of Greenvies Colony is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase of 9% from Rs 6,500 per sq.ft in 2023 to Rs 7,100 per sq.ft in 2024. The value has seen a significant increase from Rs 4,355 per sq.ft in 2017 to Rs 6,500 per sq.ft in 2023.

What is the land classification for Greenvies Colony?

Greenvies Colony is classified as Residential Special Type - I, indicating its designated use for residential purposes.

Where is the Konnur SRO located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Greenvies Colony?

Stamp duty for properties in Greenvies Colony is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 4,97,000.