Guideline Value for Golden City

Golden City guideline value

The current guideline value of Golden City, located in Mepur village under the Kunrathur SRO, is Rs 770 per sq.ft, as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Golden City has changed

The guideline value for Golden City has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, this figure dropped to Rs 469 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 700 per sq.ft, and the latest revision in 2024 has set it at Rs 770 per sq.ft, reflecting a change of +10% from the previous year.

Between the revisions, the guideline value has fluctuated considerably. From 2007 to 2012, there was a remarkable increase of +367%. The value then decreased by -33% from 2012 to 2017. Following that, there was a substantial rise of +49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by +413%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mepur

Mepur village has a range of guideline values across its 22 streets under the Kunrathur SRO, with values varying from Rs 550 to Rs 2,955 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is equal to the current value for Golden City.

• Gangai Amman Koil Street: Rs 770 per sq.ft (2024)
• Dr Koushik Enclave: Rs 1,480 per sq.ft (2024)
• Chozhan Nagar: Rs 770 per sq.ft (2024)
• Kasthuri Sriram Nagar: Rs 820 per sq.ft (2024)
• Madheena Garden: Rs 820 per sq.ft (2024)
• Andalkuppam (Pillayar Koil St): Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total fees together Rs 69,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mepur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved. This helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value for Golden City?

The current guideline value for Golden City is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, showing an overall increase of +413% over the years.

What is the registration office for Golden City?

The registration office for Golden City is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How do I calculate stamp duty for property in Golden City?

To calculate stamp duty for property in Golden City, you can use the guideline value. For example, a 1,000 sq.ft plot at Rs 770 per sq.ft would incur a stamp duty of Rs 53,900 at 7%.

What are the other streets in Mepur with guideline values?

Other streets in Mepur include Gangai Amman Koil Street, Dr Koushik Enclave, Chozhan Nagar, Kasthuri Sriram Nagar, Madheena Garden, and Andalkuppam (Pillayar Koil St), each with varying guideline values.