Guideline Value for Golden Fortune

Golden Fortune guideline value

The current guideline value of Golden Fortune, located in 1. Nolambur village under the Villivakkam 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 Fortune has changed

The guideline value for Golden Fortune has seen significant changes over the years. The 2017 revision set the value at Rs 4,355 per sq.ft, which increased to Rs 6,500 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the value to Rs 7,100 per sq.ft, marking a 9% increase from the previous year. Notably, the overall increase from 2017 to 2024 is 63%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, indicating a substantial rise in the guideline value over that period.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The guideline value for Golden Fortune is equal to the median value of Rs 7,100 per sq.ft. Below are other streets in 1. Nolambur:

• Gokulam Phase III: Rs 7,100 per sq.ft (2024)
• Gokulam Phase II: Rs 7,100 per sq.ft (2024)
• Gokulam Phase I: Rs 7,100 per sq.ft (2024)
• Guruswamy Street [Jain Sundarbans]: Rs 7,100 per sq.ft (2024)
• Galaxy Apartments (S.No.327): Rs 7,100 per sq.ft (2024)
• Gajalakshmi Nagar Extn: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Golden Fortune

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to 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. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Golden Fortune?

The Sub Registrar Office that covers Golden Fortune is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor when registering property transactions in 1. Nolambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

Buyers and sellers should be aware that the guideline value is used to calculate the applicable duties and fees, ensuring compliance with local regulations. It is advisable to check the latest guideline values before proceeding with any property transactions.

Frequently asked questions

What is the current guideline value of Golden Fortune?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,355 per sq.ft in 2017 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 63% over the period.

What is the land classification of Golden Fortune?

Golden Fortune is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.

How is stamp duty calculated for properties in Golden Fortune?

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 4,97,000.