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Guideline Value

Corporate

Guideline Value for WELCOME COLONY (NEAR PERUMAL KOIL SOUTH MADA STREET)

₹9800/sq.ft.

The guideline value for Welcome Colony (near Perumal Koil South Mada Street) in Villivakkam village (Villivakkam SRO, Chennai zone) is Rs 9800 per sq.ft, effective 1 July 2024. It was Rs 9000 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Villivakkam

Village

Villivakkam

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹9800 /sq.ft.
From 1-4-2023 ₹9000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹6030 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹9000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹950 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹565 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹495 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Welcome Colony (near Perumal Koil South Mada Street)

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Welcome Colony (Near Perumal Koil South Mada Street) guideline value

The current guideline value of Welcome Colony (Near Perumal Koil South Mada Street) is Rs 9,800 per sq.ft, effective from 1 July 2024. This area is located in Villivakkam village, under the Villivakkam Sub Registrar Office (SRO), and is classified as Residential Class I Type - III.

How the guideline value of Welcome Colony (Near Perumal Koil South Mada Street) has changed

The guideline value has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 495 per sq.ft. In 2003, it increased to Rs 565 per sq.ft, marking a 14% rise. The value then rose significantly to Rs 950 per sq.ft in 2007, which was an increase of 68%. However, the value decreased to Rs 9,000 per sq.ft in 2012, reflecting a drop of 33%. The guideline value increased again to Rs 6,030 per sq.ft in 2017, a notable rise of 49%. The most recent revision in 2023 set the value at Rs 9,000 per sq.ft, before the current figure of Rs 9,800 per sq.ft effective from July 2024, which is a 9% increase.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft, with a median value of Rs 4,900 per sq.ft. Welcome Colony's 2024 figure of Rs 9,800 per sq.ft is above this median.

Stamp duty and registration fee for property in Welcome Colony (Near Perumal Koil South Mada Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 9,800 per sq.ft, the total guideline value would be Rs 98,00,000. The stamp duty is charged at 7%, amounting to Rs 6,86,000, while the registration fee is 2%, totaling Rs 1,96,000. Therefore, the total cost for stamp duty and registration fees would be Rs 8,82,000. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Welcome Colony (Near Perumal Koil South Mada Street)?

The Sub Registrar Office that covers Welcome Colony is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process of property transactions in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that both buyers and sellers are aware of the financial implications of their transactions.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Welcome Colony?

The current guideline value of Welcome Colony (Near Perumal Koil South Mada Street) is Rs 9,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 495 per sq.ft in 2002 to Rs 9,800 per sq.ft in 2024, showing an overall increase of 1880% across the years.

What is the land classification for Welcome Colony?

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

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 98,00,000 would incur a stamp duty of Rs 6,86,000 at a rate of 7%.