Guideline Value for Golden Rain Avenue

Golden Rain Avenue guideline value

The current guideline value of Golden Rain Avenue in Nattarasampattu village, under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Golden Rain Avenue has changed

Over the years, the guideline value of Golden Rain Avenue has seen several revisions. The 2007 revision set the value at Rs 250 per sq.ft, which increased to Rs 500 per sq.ft in the 2012 revision. However, it then dropped to Rs 335 per sq.ft in 2017. The 2023 revision maintained the value at Rs 500 per sq.ft, and the same value continues into the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The overall change from the 2007 revision to the 2024 revision shows a 100% increase, reflecting the fluctuations in the guideline value over the years.

Guideline values in Nattarasampattu

Nattarasampattu has 24 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 250 to Rs 700 per sq.ft. The median value for these streets is Rs 350 per sq.ft, placing Golden Rain Avenue's 2024 figure above this median.

• Golden Rain Avenue Phase (I-VIII): Rs 500 per sq.ft (2024)
• Golden Rain Avenue Phase-IX: Rs 500 per sq.ft (2024)
• Jayam Malar Nagar Phase-I: Rs 350 per sq.ft (2024)
• Jupiter Homes: Rs 500 per sq.ft (2024)
• Jupiter Nagar: Rs 500 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Golden Rain Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Golden Rain Avenue?

The Gooduvancheri Sub Registrar Office covers Golden Rain Avenue. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nattarasampattu. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Golden Rain Avenue?

The current guideline value of Golden Rain Avenue is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and remained at Rs 500 per sq.ft in both 2023 and 2024.

What is the land classification for Golden Rain Avenue?

The land classification for Golden Rain Avenue is Residential Special Type - II.

What are the stamp duty and registration fees for properties in Golden Rain Avenue?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would be Rs 45,000 based on the current guideline value.

Where is the Sub Registrar Office for Golden Rain Avenue located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.