Guideline Value for Telephone Colony

Telephone Colony guideline value

The current guideline value of Telephone Colony, Mannurpet village, under the Konnur SRO is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Telephone Colony has changed

The guideline value for Telephone Colony has undergone several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft. This figure saw a significant increase to Rs 1,200 per sq.ft in 2012, marking a 140% rise. However, the value dropped to Rs 804 per sq.ft in 2017, which was a decrease of 33%. The subsequent revision in 2023 raised the guideline value to Rs 1,200 per sq.ft, and the most recent revision in 2024 has further increased it to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 160%. It is important to note that the register has no figures for Telephone Colony in the years 2002 and 2003.

Guideline values in Mannurpet

In Mannurpet village, there are 38 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,600 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for Telephone Colony is equal to this median.

• Thiruvalluvar Street: Rs 1,300 per sq.ft (2024)
• Thiruveediamman Koil Street: Rs 1,700 per sq.ft (2024)
• Shri Pedarimalayathamman Koil Street: Rs 1,300 per sq.ft (2024)
• Vengatasubburaya Street: Rs 1,100 per sq.ft (2024)
• Venkatasa Perumal Koil 3 & 4th Cross Street: Rs 1,300 per sq.ft (2024)
• Venkatasa Perumal Koil First & Second Cross Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Telephone Colony?

The Sub Registrar Office that covers Telephone 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mannurpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Telephone Colony?

The current guideline value of Telephone Colony is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed as follows: Rs 500 per sq.ft in 2007, Rs 1,200 in 2012, Rs 804 in 2017, Rs 1,200 in 2023, and Rs 1,300 in 2024.

What is the land classification for Telephone Colony?

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

Where can I find the Konnur Sub Registrar Office?

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

How is the stamp duty calculated for properties in Telephone Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 1,17,000.