Guideline Value for Golden Friends Smart City

Golden Friends Smart City guideline value

The current guideline value of Golden Friends Smart City is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Nasarathpettai village under the Poonamallee SRO, classified as Commercial Class I Type - I.

How the guideline value of Golden Friends Smart City has changed

The guideline value for Golden Friends Smart City has seen several revisions over the years. The register shows the following figures: in 2012, the value was Rs 2,000 per sq.ft; it decreased to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,000 per sq.ft in 2023. The current value is Rs 2,200 per sq.ft from the 2024 revision.

Between the revisions, the changes were as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, there was an increase of 49%; and from 2023 to 2024, the increase was 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nasarathpettai

In Nasarathpettai, there are 19 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median of Rs 1,320 per sq.ft. The guideline value for Golden Friends Smart City is above this median.

• Kakkila street: Rs 1,320 per sq.ft (2024)
• Chinna Chetty Street (A) Nehru Street: Rs 1,320 per sq.ft (2024)
• Kannappa Street: Rs 1,320 per sq.ft (2024)
• Bazaar street: Rs 3,300 per sq.ft (2024)
• Bangalore High Road: Rs 2,750 per sq.ft (2024)
• Bakthavachalam Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Golden Friends Smart City

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Friends Smart City?

The Sub Registrar Office that covers Golden Friends Smart City is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nasarathpettai. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Golden Friends Smart City?

The current guideline value of Golden Friends Smart City is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and currently to Rs 2,200 per sq.ft in 2024.

What is the land classification for Golden Friends Smart City?

Golden Friends Smart City is classified as Commercial Class I Type - I.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, with a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Golden Friends Smart City?

The Poonamallee Sub Registrar Office covers Golden Friends Smart City, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.