Guideline Value for Golden Avenue

Golden Avenue guideline value

The current guideline value of Golden Avenue, located in Boodur village under the Redhills SRO, is Rs 385 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Golden Avenue has changed

The guideline value for Golden Avenue has undergone several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 350 per sq.ft in 2012. However, it then decreased to Rs 234 per sq.ft in 2017. The value saw a significant increase of 50% to Rs 350 per sq.ft in 2023, before rising again by 10% to the current value of Rs 385 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 28%. The changes between the revisions highlight the fluctuations in property values in this area, with the most recent adjustment reflecting the current market conditions.

Guideline values in Boodur

In Boodur, there are 15 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 257 to Rs 1,150 per sq.ft, with the median value being Rs 385 per sq.ft. Golden Avenue's 2024 figure aligns with this median.

• Golden Shainsha Baba Nagar: Rs 385 per sq.ft (2024)
• Gomathi Amman Nagar - Annex 14: Rs 385 per sq.ft (2024)
• Boodur Gopala Puram: Rs 385 per sq.ft (2024)
• Boodhur Baba Nagar: Rs 385 per sq.ft (2024)
• Boodhur Baba Garden: Rs 385 per sq.ft (2024)
• Bharathi Nagar Annex 1: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Golden Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 385 per sq.ft, the total guideline value amounts to Rs 3,85,000. The stamp duty is charged at 7%, which totals Rs 26,950, and the registration fee at 2% amounts to Rs 7,700. Together, these fees total Rs 34,650. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Golden Avenue?

The Sub Registrar Office that covers Golden Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Boodur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is documented at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Golden Avenue?

The current guideline value of Golden Avenue is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 385 per sq.ft in 2024, reflecting an overall increase of 28% over this period.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty is Rs 26,950, and the registration fee is Rs 7,700, totaling Rs 34,650.

Which Sub Registrar Office covers Golden Avenue?

The Redhills Sub Registrar Office covers Golden Avenue, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Golden Avenue?

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