Guideline Value for Golden City

Golden City guideline value

The current guideline value of Golden City, located in Kolumanivakkam village, is Rs 1,210 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification. The village is served by the Kunrathur Sub Registrar Office.

How the guideline value of Golden City has changed

The guideline value for Golden City has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased significantly to Rs 1,100 per sq.ft in 2012, marking a substantial rise of 450%. However, from 2012 to 2017, the value decreased to Rs 737 per sq.ft, a decline of 33%. The next revision in 2023 saw the value increase to Rs 1,100 per sq.ft, which then rose to Rs 1,210 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the value rose by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 505%. It is important to note that the register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,290 per sq.ft. The median value for these streets is Rs 1,350 per sq.ft, placing Golden City's 2024 guideline value below the median.

• Hari Sai Nagar: Rs 3,290 per sq.ft (2024)
• Eswari Nagar Extension: Rs 2,630 per sq.ft (2024)
• Eswari Nagar: Rs 2,630 per sq.ft (2024)
• Jai Nagar: Rs 990 per sq.ft (2024)
• J.R Garden ஜெ.ஆர். கார்ட‌ன்: Rs 2,630 per sq.ft (2024)
• Dhana Garden: Rs 1,350 per sq.ft (2024)

Stamp duty and registration fee for property in Golden City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total to Rs 1,08,900. 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 City?

The Sub Registrar Office that covers Golden City is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kolumanivakkam. It serves as the basis for calculating stamp duty and registration fees, which must be paid during the registration process. Buyers should be aware that the guideline value is used to determine the minimum value for transactions, and it is essential to ensure that the sale price meets or exceeds this value.

When registering a property, the buyer must pay the applicable fees based on the guideline value. This ensures that the transaction is legally recognized and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Golden City?

The current guideline value of Golden City is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, reflecting an overall increase of 505% across the revisions.

What are the other streets in Kolumanivakkam and their guideline values?

Other streets in Kolumanivakkam include Hari Sai Nagar at Rs 3,290 per sq.ft, Eswari Nagar Extension at Rs 2,630 per sq.ft, and Jai Nagar at Rs 990 per sq.ft, among others.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 12,10,000, resulting in a stamp duty of Rs 84,700 and a registration fee of Rs 24,200, totaling Rs 1,08,900.

Which office handles registrations for Golden City?

The Kunrathur Sub Registrar Office handles registrations for Golden City, located at No.59, Road Street, Kundrathur, Chennai -600 069.