Guideline Value for Golden Avenue

Golden Avenue guideline value

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

How the guideline value of Golden Avenue has changed

The guideline value for Golden Avenue has undergone several revisions over the years. In 2002, the value was Rs 414 per sq.ft, which increased significantly to Rs 571 per sq.ft in 2003, marking a 38% rise. The value then saw a substantial increase to Rs 3,500 per sq.ft in 2012, reflecting a 513% growth from the previous revision. However, between 2012 and 2017, the value decreased by 33% to Rs 2,345 per sq.ft.

In the latest revision for 2024, the guideline value rose to Rs 3,850 per sq.ft, which is a 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 830%. The register has no figures for the years 2007 and 2023 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, with a median value of Rs 4,400 per sq.ft. The guideline value of Golden Avenue is below this median.

• Golden Avenue 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Golden Avenue 1st Street: Rs 3,850 per sq.ft (2024)
• Golden Avenue 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Golden Avenue 2nd Street: Rs 3,850 per sq.ft (2024)
• Golden Avenue Extn: Rs 3,850 per sq.ft (2024)
• Golden Avenue Extn 1st Cross Street: Rs 3,850 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 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, while the registration fee at 2% would be Rs 77,000, bringing the total fees to 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, 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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for property transactions in Velachery. It serves as the basis for calculating the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies 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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 414 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 830% over this period.

What is the land classification for Golden Avenue?

Golden Avenue is classified as Residential Class II Type - III, indicating its designation for residential use.

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

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

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,69,500.