Guideline Value for OKKIYAM PETTAI

Okkiyam Pettai guideline value

The current guideline value of Okkiyam Pettai is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under Okkiyamthuraipakkam village, Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Okkiyam Pettai has changed

Over the years, the guideline value of Okkiyam Pettai has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which later dropped to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value range from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Okkiyam Pettai.

• Old Mahabalipuram Road: Rs 8,800 per sq.ft (2024)
• N.I.K.Avenue: Rs 6,100 per sq.ft (2024)
• Pallavan Kudi Iruppu Via 1 St Street: Rs 3,900 per sq.ft (2024)
• PALLAVAN KUDI IRUPPU VIA 2nd STREET 3rd STREET: Rs 3,900 per sq.ft (2024)
• Pallavan Nagar & P.T.C.Quarters: Rs 3,900 per sq.ft (2024)
• Pallavan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Okkiyam Pettai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Okkiyam Pettai?

Okkiyam Pettai is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Okkiyamthuraipakkam, the guideline value is used to calculate the stamp duty and registration fees payable at the time of registration.

It is crucial for buyers and sellers to be aware of the current guideline value, as it can impact the overall costs associated with property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Okkiyam Pettai?

The current guideline value of Okkiyam Pettai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase from that point to 2023.

What is the land classification for Okkiyam Pettai?

Okkiyam Pettai is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Okkiyam Pettai?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.