Guideline Value for Good Will Avenue

Good Will Avenue guideline value

The current guideline value of Good Will Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolapakkam village under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of Good Will Avenue has changed

In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value increase further to Rs 2,200 per sq.ft, which is a 10% increase from the 2023 figure.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Good Will Avenue in the register.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Good Will Avenue.

• Gimberly Garden: Rs 2,200 per sq.ft (2024)
• Gandhi Street: Rs 1,650 per sq.ft (2024)
• Ganapathy Nagar: Rs 1,980 per sq.ft (2024)
• Essra Nagar: Rs 3,290 per sq.ft (2024)
• Jayapriya Nagar: Rs 2,200 per sq.ft (2024)
• Dharmaraja koil Street (ward 4): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Good Will Avenue

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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Good Will Avenue?

The Good Will Avenue falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Kolapakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations for their property pricing.

Frequently asked questions

What is the current guideline value of Good Will Avenue?

The current guideline value of Good Will Avenue 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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the other streets in Kolapakkam with their guideline values?

Other streets in Kolapakkam include Gimberly Garden and Jayapriya Nagar at Rs 2,200 per sq.ft, Gandhi Street at Rs 1,650 per sq.ft, Ganapathy Nagar at Rs 1,980 per sq.ft, and Essra Nagar at Rs 3,290 per sq.ft.

What is the stamp duty rate for properties in Good Will Avenue?

The stamp duty rate for properties in Good Will Avenue is 7% of the guideline value or the sale price, whichever is higher.

Which office handles the registration for Good Will Avenue?

The registration for Good Will Avenue is handled by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.