Guideline Value for OCEAN SUNDAR GATEWAY

Ocean Sundar Gateway guideline value

The current guideline value of Ocean Sundar Gateway is Rs 3,825 per sq.ft, effective from 1 July 2024. This property is located in Varadharajapuram village, under the Poonamallee SRO, and is classified as Residential Special Type - IV.

How the guideline value of Ocean Sundar Gateway has changed

The guideline value for Ocean Sundar Gateway has undergone several revisions over the years. In 2017, the guideline value was Rs 2,550 per sq.ft. This figure increased by 50% to Rs 3,825 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision, reflecting a 0% change between 2023 and 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 50%. This consistent rise indicates a significant change in the value of properties in this area over the years.

Guideline values in Varadharajapuram

In Varadharajapuram, six streets are listed under the Poonamallee SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,825 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, making Ocean Sundar Gateway's 2024 figure above that median.

• National Highway Road: Rs 2,530 per sq.ft (2024)
• K.V.R Nagar: Rs 2,530 per sq.ft (2024)
• Bala Murugan Nagar Part-III: Rs 3,825 per sq.ft (2024)
• Bala Murugan Nagar Part II Extension: Rs 1,800 per sq.ft (2024)
• Bala Murugan Nagar Part II: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ocean Sundar Gateway

For a 1,000 sq.ft plot at the current guideline value of Rs 3,825 per sq.ft, the total guideline value amounts to Rs 38,25,000. The stamp duty at 7% would be Rs 2,67,750, and the registration fee at 2% would be Rs 76,500, totaling Rs 3,44,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ocean Sundar Gateway?

The Sub Registrar Office that covers Ocean Sundar Gateway is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Varadharajapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When purchasing or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the costs involved in the transaction, based on the official valuation of the property.

Frequently asked questions

What is the current guideline value of Ocean Sundar Gateway?

The current guideline value of Ocean Sundar Gateway is Rs 3,825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,550 per sq.ft to Rs 3,825 per sq.ft in 2024, reflecting a 50% increase overall. The value remained unchanged from 2023 to 2024.

What is the land classification for Ocean Sundar Gateway?

Ocean Sundar Gateway is classified as Residential Special Type - IV, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Ocean Sundar Gateway?

For a 1,000 sq.ft plot, the guideline value is Rs 38,25,000, resulting in a stamp duty of Rs 2,67,750 and a registration fee of Rs 76,500, totaling Rs 3,44,250.

Which office handles property registrations for Ocean Sundar Gateway?

The Poonamallee Sub Registrar Office handles property registrations for Ocean Sundar Gateway, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.