Guideline Value for Golden Avenue

Golden Avenue guideline value

The current guideline value of Golden Avenue in Kolathur village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Golden Avenue has changed

The guideline value for Golden Avenue has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 2,500 per sq.ft in 2023, and most recently, it rose to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

From 2017 to 2023, the increase was 49%. Overall, from 2007 to 2024, the guideline value has increased by 170%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Golden Avenue is below this median.

• Girija Nagar West 2nd Street: Rs 4,400 per sq.ft (2024)
• Girija Nagar West 1st Street: Rs 4,400 per sq.ft (2024)
• Girija Nagar West: Rs 4,400 per sq.ft (2024)
• Girija Nagar East 2nd Street: Rs 4,400 per sq.ft (2024)
• Girija Nagar East 1st Street: Rs 4,400 per sq.ft (2024)
• Ganga Nagar: Rs 3,300 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Please 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?

The Sub Registrar Office that covers Golden Avenue is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for additional information.

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

The guideline value plays a crucial role in property transactions in Kolathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the transaction is recorded accurately and legally within the framework set by the Registration Department.

When selling property, the guideline value helps establish a baseline for the sale price. It is important for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential disputes 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 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over the years.

What is the land classification of Golden Avenue?

Golden Avenue is classified as Residential Class II Type - I under the current guidelines.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

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, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000.