Guideline Value for ONDIKUPPAM

Ondikuppam guideline value

The current guideline value of Ondikuppam, located in Thiruvottiyur village under the Thiruvottiyur SRO, is Rs 2,150 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Ondikuppam has changed

The guideline value of Ondikuppam has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 158 per sq.ft. It increased to Rs 185 per sq.ft in 2003, marking a 17% rise. The value further increased to Rs 500 per sq.ft in 2007, which was a significant jump of 170%. In 2012, the value remained at Rs 2,000 per sq.ft, showing no figure for this street in the register. The 2017 revision saw a decrease to Rs 1,340 per sq.ft, which was a decline of 33%. The guideline value then rose to Rs 2,000 per sq.ft in 2023, and finally, it reached Rs 2,150 per sq.ft in 2024, reflecting an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1261%. The changes between the revisions illustrate the fluctuations in property values over time, with the most notable increase occurring between 2007 and 2012.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that the guideline value of Ondikuppam is below this median.

• Othavadai Street: Rs 3,300 per sq.ft (2024)
• Palagai Thotti Kuppam: Rs 2,150 per sq.ft (2024)
• North Railway Station Road: Rs 3,300 per sq.ft (2024)
• North Mada Street: Rs 3,700 per sq.ft (2024)
• Palaya Kinaru Street: Rs 3,300 per sq.ft (2024)
• Pananthoppu Colony (Market Lane): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ondikuppam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total cost for these fees to Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Ondikuppam?

Ondikuppam falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded accurately in the official registry.

Additionally, the stamp duty and registration fees are calculated based on the guideline value, which means that understanding this value is essential for both buyers and sellers. This process helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Ondikuppam?

The current guideline value of Ondikuppam is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 158 per sq.ft in 2002 to Rs 2,150 per sq.ft in 2024, reflecting an overall increase of 1261% over this period.

What are the registration fees for property in Ondikuppam?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Ondikuppam?

The Thiruvottiyur Sub Registrar Office covers Ondikuppam, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

Where can I find more information about stamp duty calculations?

You can use the stamp duty and registration fee calculator for detailed information on calculating these fees.