Guideline Value for GoodWill Avenue

GoodWill Avenue guideline value

The current guideline value of GoodWill Avenue is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Venpakkam village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of GoodWill Avenue has changed

The guideline value for GoodWill Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then decreased to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and subsequently rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10% despite the drop observed between 2012 and 2017.

Guideline values in Venpakkam

In Venpakkam, there are eight streets under the Chengleput Joint I SRO that carry a 2024 guideline value, all set at Rs 660 per sq.ft, with the median also being Rs 660 per sq.ft. GoodWill Avenue's 2024 figure aligns with this median.

• Saradhambal Nagar: Rs 660 per sq.ft (2024)
• Sri Ranga Nagar: Rs 660 per sq.ft (2024)
• Sri Vedhapureesvarar Nagar Phase 1: Rs 660 per sq.ft (2024)
• Sri Vedhapureesvarar Nagar Phase 2: Rs 660 per sq.ft (2024)
• Sri Vedhapureesvarar Nagar Phase 3: Rs 660 per sq.ft (2024)
• Padma Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in GoodWill Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers GoodWill Avenue?

The Sub Registrar Office that covers GoodWill Avenue is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Venpakkam

When buying or selling property in Venpakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and reflects the minimum value at which properties can be registered in the area.

At the time of registration, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded at a value that is recognized by the authorities.

Frequently asked questions

What is the current guideline value of GoodWill Avenue?

The current guideline value of GoodWill Avenue is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for GoodWill Avenue has seen various changes, from Rs 600 per sq.ft in 2012, dropping to Rs 402 per sq.ft in 2017, then rising to Rs 600 per sq.ft in 2023, and finally reaching Rs 660 per sq.ft in 2024.

What is the land classification for GoodWill Avenue?

GoodWill Avenue is classified as Residential Special Type - I, indicating its designated use for residential purposes.

What are the other streets with the same guideline value in Venpakkam?

In Venpakkam, several other streets also have a guideline value of Rs 660 per sq.ft for 2024, including Saradhambal Nagar, Sri Ranga Nagar, and multiple phases of Sri Vedhapureesvarar Nagar.

Where can I find the Sub Registrar Office for GoodWill Avenue?

The Chengleput Joint I Sub Registrar Office covers GoodWill Avenue, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.