Guideline Value

Corporate

Guideline Value for Welcome Colony

₹2400/sq.ft.

The guideline value for Welcome Colony in Malligaicherry village (Konnur SRO, Chennai zone) is Rs 2400 per sq.ft, effective 1 July 2024. It was Rs 2250 per sq.ft from 1 April 2023, a 7% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Malligaicherry

Village

Konnur

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2400 /sq.ft.
From 1-4-2023 ₹2250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1507 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹378 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹350 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Register Office , Villivakkam Panchat,union Office Complex ,dunlop Bus Stop ,ambattur ,chennai
044-26173020
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[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]

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Welcome Colony guideline value

The current guideline value of Welcome Colony, located in Malligaicherry village under the Konnur SRO, is Rs 2,400 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Welcome Colony has changed

The guideline value for Welcome Colony has undergone several revisions since 2002. In 2002, the value was Rs 350 per sq.ft, which increased to Rs 378 per sq.ft in 2003. Following that, the value saw a significant rise to Rs 800 per sq.ft in 2007, and it further increased to Rs 2,250 per sq.ft in 2012. The value then decreased to Rs 1,507 per sq.ft in 2017, before climbing to Rs 2,250 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 2,400 per sq.ft.

Between these revisions, notable changes include a 7% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a 181% increase from 2007 to 2012. The overall change from 2002 to 2024 reflects a significant increase of 586%.

Guideline values in Malligaicherry

Malligaicherry village has a total of 49 streets under the Konnur SRO, with guideline values in 2024 ranging from Rs 2,200 to Rs 6,000 per sq.ft. Welcome Colony's guideline value of Rs 2,400 per sq.ft is equal to the median value of the area.

Stamp duty and registration fee for property in Welcome Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Welcome Colony?

The Sub Registrar Office that covers Welcome Colony is the Konnur Sub Registrar Office, located at 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 Malligaicherry

The guideline value is a crucial factor in the registration process of property transactions in Malligaicherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction based on the registered value of the property.

Frequently asked questions

What is the current guideline value of Welcome Colony?

The current guideline value of Welcome Colony is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 586% over this period.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 24,00,000, leading to a stamp duty of Rs 1,68,000 and a registration fee of Rs 48,000, totaling Rs 2,16,000.

Which office handles property registrations in Welcome Colony?

The Konnur Sub Registrar Office handles property registrations for Welcome Colony, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Welcome Colony?

Welcome Colony falls under the Residential Class II Type - I land classification as per the guideline value register.