Guideline Value for Golden Avenue

Golden Avenue guideline value

The current guideline value of Golden Avenue in Kilkattalai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Golden Avenue has changed

The guideline value for Golden Avenue has seen several revisions over the years. Starting from Rs 156 per sq.ft in 2003, it increased to Rs 500 per sq.ft in 2007. The value then surged to Rs 2,000 per sq.ft in 2012, but dropped to Rs 1,340 per sq.ft in 2017. Following this, the value rose significantly to Rs 2,000 per sq.ft in 2023 and has now reached Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Notably, there is no guideline value recorded for Golden Avenue in 2002. The overall increase from 2003 to 2024 is a substantial 1310%. Each revision reflects the changing landscape of property values in the area.

Guideline values in Kilkattalai

Kilkattalai village has a range of guideline values across its 194 streets under the Pallavaram SRO, with the 2024 figures ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value for the village is Rs 2,530 per sq.ft, placing Golden Avenue's 2024 figure below this median.

• Gokulam Nagar Ext: Rs 2,200 per sq.ft (2024)
• Gowthama Nagar: Rs 2,160 per sq.ft (2024)
• Ganga Nagar: Rs 3,080 per sq.ft (2024)
• Ganga Garden: Rs 1,980 per sq.ft (2024)
• Ganesh Nagar: Rs 4,125 per sq.ft (2024)
• Gandhi Street: Rs 3,080 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kilkattalai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must be aware of the guideline value as it affects the overall costs involved in the transaction. It is advisable to consult the guideline value register to stay informed about the current rates applicable to specific properties.

Frequently asked questions

What is the current guideline value of Golden Avenue?

The current guideline value of Golden Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 156 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1310% over this period.

What is the stamp duty rate applicable for properties in Golden Avenue?

The stamp duty rate applicable for properties in Golden Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Golden Avenue located?

The Sub Registrar Office for Golden Avenue is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the guideline values for other streets in Kilkattalai?

Other streets in Kilkattalai have varying guideline values. For example, Gokulam Nagar Ext and Gowthama Nagar both have a 2024 value of Rs 2,200 and Rs 2,160 per sq.ft, respectively.