Guideline Value for Golden Nagar

Golden Nagar guideline value

The current guideline value of Golden Nagar is Rs 605 per sq.ft, effective from 1 July 2024. This area is located in Molachoor village, under the Sunguvarchattram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Golden Nagar has changed

The guideline value for Golden Nagar has seen several revisions over the years. In 2007, the value was Rs 60 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. The value then rose to Rs 402 per sq.ft in 2017, followed by a jump to Rs 600 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 605 per sq.ft, marking a 1% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 908%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Golden Nagar's 2024 figure above that median.

• Gnanaprakasam Street: Rs 600 per sq.ft (2024)
• Gandhi Street: Rs 600 per sq.ft (2024)
• Indhira Nagar: Rs 300 per sq.ft (2024)
• Fathima Nagar: Rs 600 per sq.ft (2024)
• Irular Kudi iruppu: Rs 700 per sq.ft (2024)
• ETR Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Golden Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value would be Rs 6,05,000. The stamp duty at 7% would amount to Rs 42,350, while the registration fee at 2% would be Rs 12,100, bringing the total fees together to Rs 54,450. 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 more details.

Which Sub Registrar Office covers Golden Nagar?

The Sub Registrar Office that covers Golden Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Molachoor, as it determines the amount of stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value when finalizing a sale, as it affects the overall cost of the transaction.

When a property is registered, the guideline value serves as a benchmark for calculating the applicable fees. It ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being sold or purchased.

Frequently asked questions

What is the current guideline value of Golden Nagar?

The current guideline value of Golden Nagar is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 605 per sq.ft in 2024, marking an overall increase of 908% over this period.

What is the median guideline value in Molachoor?

The median guideline value in Molachoor is Rs 600 per sq.ft, with Golden Nagar's current value being above this median.

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

The stamp duty for a property in Golden Nagar is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 54,450.

Which office handles property registrations for Golden Nagar?

The Sunguvarchattram Sub Registrar Office handles property registrations for Golden Nagar, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.