Guideline Value for ORCHID VILLE PHASE-I

Orchid Ville Phase-I guideline value

The current guideline value of Orchid Ville Phase-I is Rs 10,300 per sq.ft, effective from 1 July 2024. 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-I has changed

The guideline value for Orchid Ville Phase-I has undergone several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 6,250 per sq.ft. This value increased significantly to Rs 9,329 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 10,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Orchid Ville Phase-I is above this median.

• Orchid Ville Phase II: 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-I

For a 1,000 sq.ft plot at the current guideline value, 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. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Orchid Ville Phase-I?

The Sub Registrar Office that covers Orchid Ville Phase-I 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 more details.

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

The guideline value is a crucial factor when registering property transactions in Neelankarai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the legal requirements set by the government.

When a property is bought or sold, the guideline value helps determine the official value of the transaction, which is necessary for the registration process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Orchid Ville Phase-I?

The current guideline value of Orchid Ville Phase-I is Rs 10,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 6,250 per sq.ft to Rs 10,300 per sq.ft in 2024, which is a total increase of 65% over these years.

What is the land classification for Orchid Ville Phase-I?

Orchid Ville Phase-I is classified as Mixed Special Type - II, which influences its guideline value and property regulations.

What are the stamp duty and registration fees for a property in Orchid Ville Phase-I?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 9,27,000.

Where can I find the Sub Registrar Office for Orchid Ville Phase-I?

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