Guideline Value for OLIVE SANDS

Olive Sands guideline value

The current guideline value of Olive Sands is Rs 4,400 per sq.ft, effective from 1 July 2024. This property is located in Uthandi village, under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of Olive Sands has changed

The guideline value for Olive Sands has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and again to Rs 4,400 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The transition from 2023 to 2024 marked a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value among these streets is Rs 1,700 per sq.ft, placing Olive Sands above this median.

• Onigoe Technologies Property: Rs 1,100 per sq.ft (2024)
• Noodeen/Bhaper Garden: Rs 1,100 per sq.ft (2024)
• Palm Springs: Rs 2,200 per sq.ft (2024)
• Palm Springs Garden: Rs 2,200 per sq.ft (2024)
• Pari Garden: Rs 1,100 per sq.ft (2024)
• Parthasarathi Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Olive Sands

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Olive Sands?

The Olive Sands property falls under 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the higher of the guideline value or the sale price is considered for calculating these fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Olive Sands?

The current guideline value of Olive Sands is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 in 2023, and finally to Rs 4,400 in 2024.

What are the guideline values of other streets in Uthandi?

Other streets in Uthandi have varying guideline values, ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value is Rs 1,700 per sq.ft.

What are the stamp duty and registration fees for Olive Sands?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 44,00,000. The stamp duty is Rs 3,08,000, and the registration fee is Rs 88,000, totaling Rs 3,96,000.

Where is the Neelankarai Sub Registrar Office located?

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