Guideline Value for GOLDEN NAGAR

Golden Nagar guideline value

The current guideline value of Golden Nagar, located in Korattur village under the Villivakkam SRO, is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Golden Nagar has changed

The guideline value for Golden Nagar has seen several revisions over the years. Starting from Rs 56 per sq.ft in 2002, it increased significantly to Rs 250 per sq.ft in 2007, marking a change of +346%. The value then jumped to Rs 2,700 per sq.ft in 2012, which was a remarkable increase of +980%. However, it decreased to Rs 1,809 per sq.ft in 2017, showing a decline of -33%. The value rose again to Rs 2,700 per sq.ft in 2023, and from there, it increased to the current value of Rs 2,900 per sq.ft in 2024, representing a change of +7%.

It is important to note that there is no registered figure for Golden Nagar in 2003. Overall, from 2002 to 2024, the guideline value has increased by +5079%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for Golden Nagar is above this median.

• Gopala Krishna Nagar: Rs 2,100 per sq.ft (2024)
• Gopala Krishna Nagar Extension: Rs 2,100 per sq.ft (2024)
• Govindraj Nagar: Rs 1,600 per sq.ft (2024)
• Gayathri Nagar: Rs 1,300 per sq.ft (2024)
• G.P.S Nagar: Rs 1,300 per sq.ft (2024)
• Gramani Street (Thanthankuppam): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Golden Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, while the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Golden Nagar?

The Sub Registrar Office that covers Golden Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Korattur. 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 is used to calculate the stamp duty and registration fees, which are mandatory for legal transfer of property ownership. This value helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Golden Nagar?

The current guideline value of Golden Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 56 per sq.ft in 2002 to Rs 2,900 per sq.ft in 2024, reflecting an overall increase of +5079%.

What is the land classification of Golden Nagar?

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

What are the stamp duty and registration fees for a property in Golden Nagar?

For a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Where is the Sub Registrar Office for Golden Nagar located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.