Guideline Value for Golden Castle

Golden Castle guideline value

The current guideline value of Golden Castle, located in Perumbakkam village under the Selaiyur SRO, is Rs 2,725 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - I.

How the guideline value of Golden Castle has changed

The guideline value for Golden Castle has undergone several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,725 per sq.ft, reflecting a 9% increase from the previous year’s rate of Rs 2,500 per sq.ft.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 9%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, which is equal to the current guideline value of Golden Castle.

• Gokul Nagar 40 Feet Road: Rs 3,300 per sq.ft (2024)
• Gokul Nagar 1st to 5th Cross street: Rs 3,300 per sq.ft (2024)
• Gokul Nagar: Rs 3,300 per sq.ft (2024)
• Global Avenue: Rs 3,800 per sq.ft (2024)
• Gengaiamman Koil Street: Rs 850 per sq.ft (2024)
• Gurudev Colony: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Golden Castle

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value amounts to Rs 27,25,000. The stamp duty at 7% would be Rs 1,90,750, and the registration fee at 2% would be Rs 54,500, bringing the total fees together to Rs 2,45,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Golden Castle?

The Sub Registrar Office that covers Golden Castle is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value of the property for the purpose of calculating stamp duty and registration fees. Buyers and sellers must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Golden Castle?

The current guideline value of Golden Castle is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 in 2012 to Rs 1,675 in 2017, then back to Rs 2,500 in 2023, and finally to Rs 2,725 in 2024.

What is the land classification of Golden Castle?

Golden Castle falls under the land classification of Residential Special Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Golden Castle?

Stamp duty is calculated based on 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 total stamp duty would be Rs 1,90,750.