Guideline Value for GOLDEN AVENUE

Golden Avenue guideline value

The current guideline value of Golden Avenue, located in Ponneri village under the Ponneri SRO, is Rs 700 per sq.ft as per the 2024 revision effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Golden Avenue has changed

The guideline value for Golden Avenue has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 500 per sq.ft. In 2017, the value increased to Rs 469 per sq.ft, marking a decrease of 6%. However, from 2017 to 2023, the value rose significantly to Rs 700 per sq.ft, reflecting an increase of 49%. The 2023 revision maintained the same rate of Rs 700 per sq.ft, which has continued into the 2024 revision.

There are no recorded figures for Golden Avenue in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 40%, with the current value aligning with the median figure for Ponneri streets.

Guideline values in Ponneri

Ponneri village has 120 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 201 to Rs 1,200 per sq.ft, with the median being Rs 700 per sq.ft. Golden Avenue's 2024 figure matches this median value.

• Gtm Garden: Rs 900 per sq.ft (2024)
• G.V.N. Nagar: Rs 700 per sq.ft (2024)
• Ganesh Nagar: Rs 700 per sq.ft (2024)
• Hariharan Bazar Street: Rs 1,200 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 900 per sq.ft (2024)
• Friendship Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Golden Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. 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 further assistance.

Which Sub Registrar Office covers Golden Avenue?

The Sub Registrar Office that covers Golden Avenue is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Ponneri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a buyer or seller engages in a property transaction, the guideline value is considered to ensure compliance with local regulations. It helps in establishing a fair basis for taxation and provides transparency in property dealings.

Frequently asked questions

What is the current guideline value of Golden Avenue?

The current guideline value of Golden Avenue is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 700 per sq.ft in 2024, with notable increases in 2017 and 2023.

What is the land classification of Golden Avenue?

Golden Avenue is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles property registrations in the area.

How is stamp duty calculated for properties in Golden Avenue?

Stamp duty for properties in Golden Avenue is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 700 per sq.ft would incur a total stamp duty and registration fee of Rs 63,000.