Guideline Value for Puducherry Colony

Puducherry Colony guideline value

The current guideline value of Puducherry Colony, located in Mugappair village under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Puducherry Colony has changed

The guideline value for Puducherry Colony has seen several revisions over the years. In 2002, the guideline value was Rs 219 per sq.ft. This increased to Rs 241 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 800 per sq.ft in 2007, which was a 232% increase. Following that, the 2012 revision brought the value back to Rs 3,500 per sq.ft, reflecting a decrease of 338% from the previous figure.

In 2017, the guideline value rose to Rs 2,345 per sq.ft, an increase of 49% from the 2012 revision. The 2023 revision set the value at Rs 3,500 per sq.ft, and the latest 2024 revision has increased it to Rs 3,800 per sq.ft, representing a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,635%.

Guideline values in Mugappair

In Mugappair village, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 7,100 per sq.ft, positioning Puducherry Colony's 2024 figure below that median.

• Pugazhanthi Salai (Mogappair East Block 4): Rs 7,100 per sq.ft (2024)
• Prathish Street: Rs 7,100 per sq.ft (2024)
• Quiathemillath Street - (T.M.P.Nagar): Rs 5,500 per sq.ft (2024)
• Perumal Nagar: Rs 7,100 per sq.ft (2024)
• Periyar Street (Srinivasa Nagar): Rs 3,800 per sq.ft (2024)
• Periyar Street Ist Cross Street to 5 Cross Street and others Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Puducherry Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Puducherry Colony?

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

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Mugappair, the guideline value helps in calculating the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Puducherry Colony?

The current guideline value of Puducherry Colony is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 219 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 1,635% over the years.

What is the land classification of Puducherry Colony?

Puducherry Colony is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Puducherry Colony?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur total fees of Rs 3,42,000.

Where can I find my Sub Registrar Office for Puducherry Colony?

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