Guideline Value for WELCOME CITY

Welcome City guideline value

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

How the guideline value of Welcome City has changed

The guideline value for Welcome City has undergone several revisions over the years. In 2007, the guideline value was Rs 60 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, it dropped to Rs 268 per sq.ft in 2017 before rising again to Rs 400 per sq.ft in both 2023 and 2024, showing no change between these two years.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2007 revision to the current 2024 revision reflects a substantial increase of 567%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mamandoor

In Mamandoor, there are 41 streets under the Chengleput Joint II SRO that have 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’s 2024 figure is below this median.

• Welcome City Phase -2: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to 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, bringing the total fees to Rs 36,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Welcome City?

Welcome City is covered by 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 is a critical factor in the registration process for property transactions in Mamandoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value helps ensure that the transaction is registered at a value that reflects the prevailing rates in the area. This is important for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Welcome City?

The current guideline value of Welcome City is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 60 per sq.ft in 2007, increasing to Rs 400 in 2012, dropping to Rs 268 in 2017, and remaining at Rs 400 in both 2023 and 2024.

What are the guideline values of other streets in Mamandoor?

Other streets in Mamandoor have varying guideline values, ranging from Rs 300 to Rs 1,200 per sq.ft, with Welcome City’s value being below the median of Rs 500 per sq.ft.

What are the stamp duty and registration fees for property in Welcome City?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Where is the Sub Registrar Office for Welcome City located?

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