Guideline Value for OCEAN SPRING PHASE II

Ocean Spring Phase II guideline value

The current guideline value of Ocean Spring Phase II is Rs 3,000 per sq.ft. This property is located in Thaiyur - B village, under the jurisdiction of the Thiruporur SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Ocean Spring Phase II has changed

In the 2017 revision, the guideline value was set at Rs 2,010 per sq.ft. This was an increase from the previous revisions, which have no figures available for the years 2002, 2003, 2007, and 2012. The most recent revision in 2023 saw a significant increase to Rs 3,000 per sq.ft, marking a rise of 49% from the 2017 figure.

Thus, the guideline value has seen a steady increase over the years, with the latest revision reflecting a notable jump. The 2023 revision is the only figure currently available for this street, as no figure has been published for the 2024 revision.

Guideline values in Thaiyur - B

The guideline value for Ocean Spring Phase II is Rs 3,000 per sq.ft, and there are no specific village figures available for this area. Currently, there are no other streets in Thaiyur - B under the Thiruporur SRO.

Stamp duty and registration fee for property in Ocean Spring Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value would be Rs 30,00,000. The stamp duty at 7% would amount to Rs 2,10,000, and the registration fee at 2% would be Rs 60,000. Together, the total cost for stamp duty and registration fee would be Rs 2,70,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ocean Spring Phase II?

The Sub Registrar Office that covers Ocean Spring Phase II is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Thaiyur - B

The guideline value plays a crucial role in the registration of property transactions in Thaiyur - B. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the buying or selling process.

When a property is sold, the buyer is required to pay stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Ocean Spring Phase II?

The current guideline value for Ocean Spring Phase II is Rs 3,000 per sq.ft, as per the 2023 revision.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,000 per sq.ft, which is a rise of 49%.

Are there any guideline values for years prior to 2017?

No, there are no guideline values available for the years 2002, 2003, 2007, and 2012 for Ocean Spring Phase II.

What are the stamp duty and registration fees for a property in Ocean Spring Phase II?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,10,000 and the registration fee would be Rs 60,000, totaling Rs 2,70,000.

Which office handles the registration for Ocean Spring Phase II?

The registration for Ocean Spring Phase II is handled by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.