Guideline Value for GOLDEN CITY

Golden City guideline value

The current guideline value of Golden City, located in Nayakkankuppam village under the Walajabad SRO, is Rs 150 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - III.

How the guideline value of Golden City has changed

Looking back at the revisions, the guideline value for Golden City was Rs 150 per sq.ft in 2012. In 2017, it decreased to Rs 100 per sq.ft, marking a 33% reduction. The value then increased by 50% to Rs 150 per sq.ft in 2023 and has remained the same in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in guideline value is 0%. The values from the 2023 revision to the 2024 revision show no change, with both set at Rs 150 per sq.ft.

Guideline values in Nayakkankuppam

Nayakkankuppam has 23 streets under the Walajabad SRO, with guideline values ranging from Rs 150 to Rs 403 per sq.ft in 2024. The median value for these streets is Rs 200 per sq.ft, placing Golden City below this median.

• Gain Nagar: Rs 150 per sq.ft (2024)
• Ezhilarasi Nagar Phase-III: Rs 250 per sq.ft (2024)
• Ezhilarasi Nagar Phase-II: Rs 250 per sq.ft (2024)
• Ezhil Arasi Nagar: Rs 200 per sq.ft (2024)
• Emerald Avenue Extension: Rs 250 per sq.ft (2024)
• Eden Garden: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Golden City

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total to Rs 13,500. 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 Golden City?

The Sub Registrar Office that covers Golden City is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nayakkankuppam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use the guideline value to calculate applicable duties and fees.

When registering a property, the stamp duty and registration fees are calculated 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 City?

The current guideline value of Golden City is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a decrease to Rs 100 per sq.ft in 2017, followed by an increase back to Rs 150 per sq.ft in 2023 and remaining the same in 2024.

What is the median guideline value in Nayakkankuppam?

The median guideline value for the streets in Nayakkankuppam is Rs 200 per sq.ft, with Golden City being below this median at Rs 150 per sq.ft.

What are the stamp duty rates in Golden City?

The stamp duty rate for property transactions in Golden City is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Golden City?

The Walajabad Sub Registrar Office handles registrations for Golden City, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.