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Guideline Value

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Guideline Value for Golden Avenue 2nd Street

₹3850/sq.ft.

The guideline value for Golden Avenue 2nd Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. 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 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
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 2nd Street

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Golden Avenue 2nd Street guideline value

The current guideline value of Golden Avenue 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the jurisdiction of the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Golden Avenue 2nd Street has changed

The guideline value for Golden Avenue 2nd Street has undergone several revisions over the years. The oldest recorded revision was in 2017, where the value was Rs 2,345 per sq.ft. This figure increased to Rs 3,500 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, indicating that the value for Golden Avenue 2nd Street is below this median.

Stamp duty and registration fee for property in Golden Avenue 2nd Street

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

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Golden Avenue 2nd Street?

The Sub Registrar Office that covers Golden Avenue 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Velachery. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Golden Avenue 2nd Street?

The current guideline value of Golden Avenue 2nd 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 increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery with the same guideline value of Rs 3,850 per sq.ft include Golden Avenue 2nd Cross Street, Golden Avenue Extn, Golden Avenue 1st Street, Golden Avenue Extn 1st Cross Street, Golden Avenue 1st Cross Street, and Golden Avenue Extn 1st Street.

What are the stamp duty and registration fees for properties in this area?

The stamp duty for properties in Golden Avenue 2nd Street is 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total cost of Rs 3,46,500 in stamp duty and registration fees.

Which office handles registrations for Golden Avenue 2nd Street?

The Velacheri Sub Registrar Office handles registrations for Golden Avenue 2nd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.