Guideline Value for GOLDAN AVENUE

Goldan Avenue guideline value

The current guideline value of Goldan Avenue, located in Medavakkam village, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Goldan Avenue has changed

The guideline value for Goldan Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then further to Rs 1,980 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, the value rose by 49% from the 2017 revision to the 2023 revision. The overall change from the 2012 revision to the 2024 revision is a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Goldan Avenue's 2024 figure below that median.

• Gopu Salai: Rs 2,200 per sq.ft (2024)
• Gayathri Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Goldan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Goldan Avenue?

The Sub Registrar Office covering Goldan Avenue is 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. You can find your SRO for more information.

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

When buying or selling property in Medavakkam, the guideline value is a crucial factor in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate amount is collected during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. Understanding the guideline value helps facilitate a smoother registration process and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Goldan Avenue?

The current guideline value of Goldan Avenue is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Goldan Avenue?

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

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

For a 1,000 sq.ft plot, the total guideline value is Rs 19,80,000, with stamp duty at Rs 1,38,600 and registration fees at Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office handles registrations for Goldan Avenue?

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