Guideline Value for Golden Avenue Main Road

Golden Avenue Main Road guideline value

The current guideline value of Golden Avenue Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Golden Avenue Main Road has seen significant changes over the years. In the 2007 revision, the value was set at Rs 1,800 per sq.ft. This increased to Rs 2,345 per sq.ft in the 2017 revision, marking a 30% rise. The most recent revision in 2024 brought the value to Rs 3,850 per sq.ft, reflecting a substantial increase of 64% from 2017. Overall, from 2007 to 2024, the guideline value has increased by 114%.

It is important to note that the register has no figures for the years 2002, 2003, 2012, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value 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, which means that Golden Avenue Main Road's 2024 value is below that median.

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

Stamp duty and registration fee for property in Golden Avenue Main Road

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, bringing the total cost for these fees to Rs 3,46,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Golden Avenue Main Road?

The Sub Registrar Office that covers Golden Avenue Main Road 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 further assistance.

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

The guideline value plays a crucial role in property transactions in Velachery. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized value set by the government.

It is important for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Accurate knowledge of these values helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Golden Avenue Main Road?

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

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,800 per sq.ft to Rs 3,850 per sq.ft in 2024, marking an overall increase of 114%.

What is the land classification for Golden Avenue Main Road?

Golden Avenue Main Road is classified as Residential Class II Type - III.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur fees totaling Rs 3,46,500.