Guideline Value for GOLDEN AVENUE PART I

Golden Avenue Part I guideline value

The current guideline value of Golden Avenue Part I is Rs 500 per sq.ft. This property is located in Nayapakkam village under the Manavalanagar SRO, classified as Residential Class II Type - I.

How the guideline value of Golden Avenue Part I has changed

The guideline value for Golden Avenue Part I has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. This was a reduction of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 500 per sq.ft. The 2024 revision also maintains this value at Rs 500 per sq.ft, reflecting no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Therefore, the only revisions that have been recorded are for the years 2012, 2017, 2023, and 2024.

Guideline values in Nayapakkam

Nayapakkam village has a total of 16 streets under the Manavalanagar SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 900 per sq.ft. The median value for these streets is Rs 500 per sq.ft, making Golden Avenue Part I's current guideline value equal to this median.

• Golden Avenue Part II: Rs 500 per sq.ft (2024)
• Golden Avenue: Rs 500 per sq.ft (2024)
• Infotech City: Rs 500 per sq.ft (2024)
• Info Tech City Extension: Rs 500 per sq.ft (2024)
• Spanish City: Rs 600 per sq.ft (2024)
• Sree Maharish Enclave Phase I: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Golden Avenue Part I

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Golden Avenue Part I?

The Sub Registrar Office that covers Golden Avenue Part I is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

You can find your SRO for more information regarding property registration.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nayapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Golden Avenue Part I?

The current guideline value of Golden Avenue Part I is Rs 500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023 and 2024, with a significant increase of 49% from 2017 to 2023.

What is the classification of land in Golden Avenue Part I?

Golden Avenue Part I is classified as Residential Class II Type - I, according to the guidelines set by the Manavalanagar SRO.

Where can I find the Sub Registrar Office for Golden Avenue Part I?

The Sub Registrar Office for Golden Avenue Part I is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties in Nayapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.