Guideline Value for GOLD AVENUE

Gold Avenue guideline value

The current guideline value of Gold Avenue, located in Pallikaranai village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Gold Avenue has changed

The guideline value for Gold Avenue has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. However, in 2023, the value increased significantly to Rs 1,500 per sq.ft, and in the latest 2024 revision, it rose further to Rs 1,650 per sq.ft.

From 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for this area is Rs 1,650 per sq.ft, which is the same as the current guideline value for Gold Avenue.

• Gopal Nagar: Rs 1,650 per sq.ft (2024)
• Gopal Nagar Cross Street: Rs 1,650 per sq.ft (2024)
• Gopal Nagar Extension: Rs 1,650 per sq.ft (2024)
• Gopal Nagar S.Kolathur Road: Rs 1,650 per sq.ft (2024)
• Govindan Street: Rs 1,320 per sq.ft (2024)
• Govindasamy Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Gold Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration fees would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gold Avenue?

Gold Avenue falls under the jurisdiction of the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For more information, you can find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value when negotiating the sale price, as the stamp duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Gold Avenue?

The current guideline value of Gold Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, which is the same as the current guideline value for Gold Avenue.

What are the stamp duty and registration fees for property in Gold Avenue?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations for Gold Avenue?

The Chennai South Joint I Sub Registrar Office handles property registrations for Gold Avenue, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.