Guideline Value for Golden Avenue Extn

Golden Avenue Extn guideline value

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

How the guideline value of Golden Avenue Extn has changed

The guideline value for Golden Avenue Extn has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, an increase from Rs 3,500 per sq.ft in 2023, marking a change of +10%. Prior to that, the value was Rs 2,345 per sq.ft in 2017, reflecting a significant increase of +49% over the six years.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by +64% from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft.

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 Golden Avenue Extn's 2024 figure is below that median.

• Golden Avenue 2nd Street: Rs 3,850 per sq.ft (2024)
• Golden Avenue Extn 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Golden Avenue 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Golden Avenue Extn 1st Street: Rs 3,850 per sq.ft (2024)
• Golden Avenue 1st Street: Rs 3,850 per sq.ft (2024)
• Golden Avenue Extn 2nd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Golden Avenue Extn

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, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the 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 Avenue Extn?

The Sub Registrar Office that covers Golden Avenue Extn 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 more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When a buyer agrees on a sale price, the guideline value will be compared to this price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Golden Avenue Extn?

The current guideline value of Golden Avenue Extn 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, reflecting an overall change of +64% over this period.

What is the land classification for Golden Avenue Extn?

Golden Avenue Extn falls under the Residential Class II Type - III land classification.

Where can I find the registration office for Golden Avenue Extn?

The registration office for Golden Avenue Extn 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 Extn?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at a rate of 7%.