Guideline Value for WELCOME CITY PHASE -2

Welcome City Phase -2 guideline value

The current guideline value for Welcome City Phase -2, located in Mamandoor village under the Chengleput Joint II SRO, is Rs 400 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Welcome City Phase -2 has changed

The guideline value for Welcome City Phase -2 has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 400 per sq.ft. This remained unchanged in the 2017 revision, where it was Rs 268 per sq.ft, showing a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 400 per sq.ft. The 2024 revision also maintains this value at Rs 400 per sq.ft, reflecting a 0% change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mamandoor

In Mamandoor, there are 41 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,200 per sq.ft, with a median value of Rs 500 per sq.ft. Welcome City Phase -2's 2024 guideline value is below this median.

• Welcome City: Rs 400 per sq.ft (2024)
• Vijay Nagar: Rs 800 per sq.ft (2024)
• Vedha Garden: Rs 500 per sq.ft (2024)
• Varun Plats: Rs 400 per sq.ft (2024)
• Thirumalai Nagar: Rs 500 per sq.ft (2024)
• Sri Vathsa Nagar Phasei: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Welcome City Phase -2

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value is Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Welcome City Phase -2?

The Sub Registrar Office that covers Welcome City Phase -2 is the Chengleput Joint II 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 Mamandoor

The guideline value plays a crucial role when buying or selling property in Mamandoor. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the guideline value is accurately reflected in the documentation. This helps in avoiding any discrepancies that may arise during the registration process, ensuring a smooth transaction.

Frequently asked questions

What is the current guideline value for Welcome City Phase -2?

The current guideline value for Welcome City Phase -2 is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023 and remains the same in 2024.

What is the land classification for Welcome City Phase -2?

The land classification for Welcome City Phase -2 is Residential Class I Type - I.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000.