Guideline Value for OLIVE AVENUE PHASE -II

Olive Avenue Phase -II guideline value

The current guideline value of Olive Avenue Phase -II is Rs 175 per sq.ft, effective from 1 July 2024. This street is located in Aamoor village under the Ponneri Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - III.

How the guideline value of Olive Avenue Phase -II has changed

From the register, there are no figures available for Olive Avenue Phase -II for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 175 per sq.ft in the 2023 revision and remains the same in the 2024 revision, showing no change between these two years.

Thus, the current guideline value reflects a consistent rate of Rs 175 per sq.ft for both the 2023 and 2024 revisions. This indicates stability in the valuation for Olive Avenue Phase -II in recent years.

Guideline values in Aamoor

Aamoor village has a range of guideline values across its streets, with figures for 2024 ranging from Rs 175 to Rs 800 per sq.ft. The median guideline value in the village is Rs 200 per sq.ft, placing Olive Avenue Phase -II below this median.

• Olive Avenue Phase -III: Rs 175 per sq.ft (2024)
• Manimegalai Nagar: Rs 200 per sq.ft (2024)
• Sakthi Sai Nagar: Rs 400 per sq.ft (2024)
• Kumarasamy Green Field: Rs 200 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 400 per sq.ft (2024)
• Velammal Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Olive Avenue Phase -II

For a 1,000 sq.ft plot at the current guideline value of Rs 175 per sq.ft, the total guideline value amounts to Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, totaling Rs 15,750. 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 Olive Avenue Phase -II?

The Olive Avenue Phase -II falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Aamoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are based on an established valuation rather than fluctuating market prices.

When buying or selling property, the guideline value helps both parties understand the minimum value assigned to the property by the government. This transparency aids in fair transactions and compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Olive Avenue Phase -II?

The current guideline value of Olive Avenue Phase -II is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 175 per sq.ft for both the 2023 and 2024 revisions. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Aamoor?

The median guideline value in Aamoor is Rs 200 per sq.ft, which means Olive Avenue Phase -II's guideline value is below this median.

What are the stamp duty and registration fees for Olive Avenue Phase -II?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 12,250 and the registration fee would be Rs 3,500, totaling Rs 15,750.

Where can I find the Sub Registrar Office for Olive Avenue Phase -II?

The Sub Registrar Office covering Olive Avenue Phase -II is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO online as well.