Guideline Value

Corporate

Guideline Value for Everest Colony

₹8800/sq.ft.

The guideline value for Everest Colony in Mugappair village (Konnur SRO, Chennai zone) is Rs 8800 per sq.ft, effective 1 July 2024. It was Rs 8000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Mugappair

Village

Konnur

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹8800 /sq.ft.
From 1-4-2023 ₹8000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹5360 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹8000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2000 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Register Office , Villivakkam Panchat,union Office Complex ,dunlop Bus Stop ,ambattur ,chennai
044-26173020
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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Everest Colony guideline value

The current guideline value of Everest Colony, located in Mugappair village under the Konnur SRO, is Rs 8,800 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Everest Colony has changed

The guideline value for Everest Colony has undergone several revisions over the years. In 2007, the guideline value was set at Rs 2,000 per sq.ft. This figure saw a significant increase in 2012, where it rose to Rs 8,000 per sq.ft. However, in 2017, it decreased to Rs 5,360 per sq.ft. Following this, the value increased to Rs 8,000 per sq.ft in 2023, and currently stands at Rs 8,800 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the guideline value has increased by 340%. The changes between the revisions include a 300% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, making Everest Colony's current figure above that median.

Stamp duty and registration fee for property in Everest Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty, calculated at 7%, would amount to Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000. Together, the total costs would be Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Everest Colony?

The Sub Registrar Office that covers Everest Colony is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that both parties are aware of the financial implications of the transaction. It is essential for buyers to verify the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Everest Colony?

The current guideline value of Everest Colony is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 increasing it to Rs 8,800 per sq.ft from Rs 8,000 per sq.ft in 2023.

What is the land classification of Everest Colony?

Everest Colony is classified as Commercial Class I Type - I, indicating its commercial usage and potential for business activities.

Where can I find the Sub Registrar Office for Everest Colony?

The Konnur Sub Registrar Office covers Everest Colony and is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Everest Colony?

Stamp duty for properties in Everest Colony is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 88,00,000, leading to a stamp duty of Rs 6,16,000.