Guideline Value for ORCHID VILLE PHASE II

Orchid Ville Phase II guideline value

The current guideline value of Orchid Ville Phase II is Rs 10,300 per sq.ft, effective from the 2024 revision. This property is located in Neelankarai village, under the Neelankarai SRO, and is classified as Mixed Special Type - II.

How the guideline value of Orchid Ville Phase II has changed

Over the years, the guideline value of Orchid Ville Phase II has seen several revisions. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The 2023 revision was set at Rs 9,329 per sq.ft, and the most recent 2024 revision increased this to Rs 10,300 per sq.ft, marking a change of +10% from the previous year.

The 2024 figure of Rs 10,300 per sq.ft places Orchid Ville Phase II above the median guideline value of Rs 2,200 per sq.ft for the 377 streets in Neelankarai, which range from Rs 1,000 to Rs 10,500 per sq.ft in the 2024 revision.

Guideline values in Neelankarai

In Neelankarai, the guideline values vary significantly, with a range from Rs 1,000 to Rs 10,500 per sq.ft. Orchid Ville Phase II is positioned at the higher end of this spectrum. Below are the guideline values for other streets in Neelankarai:

• Orchid Ville Phase-I: Rs 10,300 per sq.ft (2024)
• North Street: Rs 1,700 per sq.ft (2024)
• New Saraswathi Nagar: Rs 2,800 per sq.ft (2024)
• Pandian Salai: Rs 4,400 per sq.ft (2024)
• Pandian Salai 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Pandian Salai 2nd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Orchid Ville Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 10,300 per sq.ft, the total guideline value would be Rs 1,03,00,000. The stamp duty at 7% would amount to Rs 7,21,000, and the registration fee at 2% would be Rs 2,06,000, bringing the total fees to Rs 9,27,000. 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 Orchid Ville Phase II?

The Sub Registrar Office covering Orchid Ville Phase II is 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 further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Neelankarai. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Orchid Ville Phase II?

The current guideline value of Orchid Ville Phase II is Rs 10,300 per sq.ft, effective from the 2024 revision.

How much has the guideline value changed from 2023 to 2024?

From the 2023 revision to the 2024 revision, the guideline value increased by +10%, going from Rs 9,329 per sq.ft to Rs 10,300 per sq.ft.

What is the land classification of Orchid Ville Phase II?

Orchid Ville Phase II is classified as Mixed Special Type - II, which is a designation used to categorize the type of land use in the area.

Where can I find the registration office for Orchid Ville Phase II?

The registration office for Orchid Ville Phase II is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property in Orchid Ville Phase II?

Stamp duty for property in Orchid Ville Phase II is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 7,21,000.