Guideline Value for OCEAN SPRING

Ocean Spring guideline value

The current guideline value of Ocean Spring, located in Thaiyur-A village under the Thiruporur SRO, is Rs 2,239 per sq.ft. This value is based on the 2023 revision and falls under the Commercial Class I Type - III land classification.

How the guideline value of Ocean Spring has changed

In the 2017 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure reflects a significant increase of 49% to the current value of Rs 2,239 per sq.ft as per the 2023 revision. There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2024 for this street.

The increase from 2017 to 2023 indicates a notable change in the guideline value, but without figures from the earlier revisions, it is challenging to assess the historical context fully. The current guideline value reflects the latest assessment by the Registration Department.

Guideline values in Thaiyur-A

Currently, there are no specific village figures provided for Thaiyur-A. Ocean Spring is one of the locations within this area, and there are no other streets in Thaiyur-A under the Thiruporur SRO listed.

Stamp duty and registration fee for property in Ocean Spring

For a 1,000 sq.ft plot at the current guideline value of Rs 2,239 per sq.ft, the total guideline value amounts to Rs 22,39,000. The stamp duty, calculated at 7%, comes to Rs 1,56,730, while the registration fee at 2% is Rs 44,780. Together, the total cost for stamp duty and registration fee is Rs 2,01,510. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ocean Spring?

The Sub Registrar Office that covers Ocean Spring is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Thaiyur-A. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial implications involved in the transaction.

It is essential for buyers and sellers to understand that the guideline value is assessed by the Registration Department and can influence the overall costs associated with property transactions. This value is a key factor in ensuring compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Ocean Spring?

The current guideline value of Ocean Spring is Rs 2,239 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 1,500 per sq.ft to Rs 2,239 per sq.ft, marking a change of 49%.

Are there any guideline values for previous years?

There are no guideline values available for the revisions in 2002, 2003, 2007, 2012, and 2024 for Ocean Spring.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs amount to Rs 2,01,510 when calculated based on the current guideline value.

Where is the Sub Registrar Office for Ocean Spring located?

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