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Guideline Value

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Guideline Value for Golden Avenue 1st Street

₹3850/sq.ft.

The guideline value for Golden Avenue 1st Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Golden Avenue 1st Street

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Golden Avenue 1st Street guideline value

The current guideline value of Golden Avenue 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Golden Avenue 1st Street has changed

Looking at the revisions, the guideline value for Golden Avenue 1st Street was Rs 3,500 per sq.ft in 2012. It then decreased to Rs 2,345 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 3,850 per sq.ft, representing a rise of 64%. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%.

The register has no figures for the years 2023, 2007, 2003, and 2002 for this street. Therefore, the only revisions available are from 2012, 2017, and 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Golden Avenue 1st Street's 2024 figure below this median.

Stamp duty and registration fee for property in Golden Avenue 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total cost of Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Golden Avenue 1st Street?

The Sub Registrar Office that covers Golden Avenue 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for additional assistance.

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

The guideline value is a critical factor in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of these values to make informed decisions during their transactions.

Frequently asked questions

What is the current guideline value of Golden Avenue 1st Street?

The current guideline value of Golden Avenue 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then rising to Rs 3,850 per sq.ft in 2024. This represents a decrease of 33% from 2012 to 2017, followed by a 64% increase from 2017 to 2024.

What is the land classification for Golden Avenue 1st Street?

Golden Avenue 1st Street is classified as Residential Class II Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Golden Avenue 1st Street?

The Sub Registrar Office for Golden Avenue 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Golden Avenue 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable, making it essential to consider these costs when purchasing property.