Guideline Value for Golden Colony

Golden Colony guideline value

The current guideline value of Golden Colony, located in Mugappair village under the Konnur SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Golden Colony has changed

Since 2002, the guideline value of Golden Colony has seen significant changes. The value started at Rs 819 per sq.ft in 2002 and increased to Rs 899 per sq.ft in 2003. The next revision in 2007 saw a substantial rise to Rs 2,000 per sq.ft, which then jumped to Rs 6,500 per sq.ft in 2012. However, it decreased to Rs 4,355 per sq.ft in 2017 before rising again to Rs 6,500 per sq.ft in 2023, and finally reaching Rs 7,100 per sq.ft in 2024.

Looking at the changes between revisions, from 2017 to 2023, the value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while from 2007 to 2012, there was a significant increase of 225%. The value rose by 122% from 2003 to 2007 and by 10% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 767%. There are no figures for other revisions for this street.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. Golden Colony's current guideline value aligns with this median.

• Golden Flats: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Ambika Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Annexure: Rs 7,100 per sq.ft (2024)
• Golden George Nagar ChristhuvaAlayamStreet: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Cinema Theatre Backside Lane: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Dr. Selvi Jeyakumar Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Golden Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value is Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. 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 Colony?

The Sub Registrar Office that covers Golden Colony is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher amount. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Golden Colony?

The current guideline value of Golden Colony is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value of Golden Colony changed over the years?

The guideline value has increased significantly from Rs 819 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 767% over this period.

What are the other streets in Mugappair with the same guideline value?

Other streets in Mugappair with the same guideline value of Rs 7,100 per sq.ft include Golden Flats, Golden George Nagar Ambika Street, Golden George Nagar Annexure, Golden George Nagar ChristhuvaAlayamStreet, Golden George Nagar Cinema Theatre Backside Lane, and Golden George Nagar Dr. Selvi Jeyakumar Street.

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

For a property in Golden Colony valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles the registration for Golden Colony?

The Konnur Sub Registrar Office handles the registration for Golden Colony, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.