Guideline Value for WELCOME CITY PART-I

Welcome City Part-I guideline value

The current guideline value for Welcome City Part-I is Rs 100 per sq.ft, effective from 1 July 2024. This property is located in Sirupinayoor,Thiruvanthavar,Perungazhi village under the Salavakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Welcome City Part-I has changed

The guideline value for Welcome City Part-I has undergone several revisions over the years. In 2012, the guideline value was set at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft. The value then increased to Rs 100 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

Looking at the changes between the revisions, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 100 per sq.ft.

Guideline values in Sirupinayoor,Thiruvanthavar,Perungazhi

In Sirupinayoor,Thiruvanthavar,Perungazhi, there are 36 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,000 per sq.ft, with a median value of Rs 150 per sq.ft. Welcome City Part-I's 2024 figure is below this median.

• Welcome City: Rs 100 per sq.ft (2024)
• Vvip Nagar: Rs 150 per sq.ft (2024)
• Vsr Nagar: Rs 426 per sq.ft (2024)
• Wood Creek: Rs 100 per sq.ft (2024)
• Vr Promotors Thendral Nagar: Rs 100 per sq.ft (2024)
• Vishwa Avenue: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Welcome City Part-I

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Welcome City Part-I?

Welcome City Part-I is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sirupinayoor,Thiruvanthavar,Perungazhi

The guideline value is a crucial factor when buying or selling property in Sirupinayoor,Thiruvanthavar,Perungazhi. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers must be aware of the guideline value to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the actual sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Welcome City Part-I?

The current guideline value of Welcome City Part-I is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft from 2012 to 2024, with a decrease to Rs 67 per sq.ft in 2017 and an increase back to Rs 100 per sq.ft in 2023.

What is the land classification for Welcome City Part-I?

Welcome City Part-I is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is stamp duty calculated for properties in Welcome City Part-I?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 100 per sq.ft would incur a stamp duty of Rs 7,000.