Guideline Value for ALLIANCE ORCHID SPRINGS

Alliance Orchid Springs guideline value

The current guideline value of Alliance Orchid Springs is Rs 3,800 per sq.ft, effective from 1 July 2024. This property is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification is Residential Class II Type - I.

How the guideline value of Alliance Orchid Springs has changed

The guideline value for Alliance Orchid Springs has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the 2017 revision. However, the value dropped to Rs 2,345 per sq.ft in 2017 before increasing to Rs 3,500 per sq.ft again in 2023. The latest revision in 2024 has increased the guideline value to Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. Overall, the guideline value has risen by 9% from 2012 to 2024. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value range from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Alliance Orchid Springs above this median.

• Agraharam Street: Rs 2,900 per sq.ft (2024)
• Amman Koil Street @ Nagathamman Koil Street (Thanthankuppam): Rs 1,600 per sq.ft (2024)
• Adithya Avenue: Rs 1,600 per sq.ft (2024)
• Anand Garden: Rs 1,600 per sq.ft (2024)
• Ananthalakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Ananthalakshmi Nagar Extension: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Alliance Orchid Springs

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total cost for stamp duty and registration would be Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Alliance Orchid Springs?

The Sub Registrar Office that covers Alliance Orchid Springs is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is used to assess the applicable charges, ensuring that the transaction is recorded accurately. Buyers should be aware that the duty is calculated based on the higher value between the guideline and the sale price.

Frequently asked questions

What is the current guideline value of Alliance Orchid Springs?

The current guideline value of Alliance Orchid Springs is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 in 2023, and finally to Rs 3,800 in 2024.

What is the land classification for Alliance Orchid Springs?

The land classification for Alliance Orchid Springs is Residential Class II Type - I.

Where is the Villivakkam Sub Registrar Office located?

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 Alliance Orchid Springs?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 3,800 per sq.ft, the stamp duty would be Rs 2,66,000.