Guideline Value

Corporate

Guideline Value for Welcome Nagar 1st Lane

₹3960/sq.ft.

The guideline value for Welcome Nagar 1st Lane in Porur village (Kunrathur SRO, Chennai zone) is Rs 3960 per sq.ft, effective 1 July 2024. It was Rs 3600 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Porur

Village

Kunrathur

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹3960 /sq.ft.
From 1-4-2023 ₹3600 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2412 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3600 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.59. Road Street, Kundrathur, Chennai -600 069.
044-24780515
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[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 Nagar 1st Lane

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Welcome Nagar 1st Lane guideline value

The current guideline value of Welcome Nagar 1st Lane is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur Sub Registrar Office (SRO), and is classified as Residential Special Type - I.

How the guideline value of Welcome Nagar 1st Lane has changed

The guideline value for Welcome Nagar 1st Lane has seen several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49%, bringing it to Rs 3,600 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 3,960 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are a total of 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, which is equal to the guideline value of Welcome Nagar 1st Lane.

Stamp duty and registration fee for property in Welcome Nagar 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,960 per sq.ft, the guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200. Together, the total cost for duty and registration would be Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Welcome Nagar 1st Lane?

The Sub Registrar Office that covers Welcome Nagar 1st Lane is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are fairly assessed and documented.

Frequently asked questions

What is the current guideline value of Welcome Nagar 1st Lane?

The current guideline value of Welcome Nagar 1st Lane is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024, marking a 10% increase. It was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012, reflecting various revisions over the years.

What is the land classification for Welcome Nagar 1st Lane?

Welcome Nagar 1st Lane is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Welcome Nagar 1st Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property with a guideline value of Rs 39,60,000, the stamp duty would be calculated at 7% of that amount.