Guideline Value

Corporate

Guideline Value for ORMES 1ST STREET

₹8800/sq.ft.

The guideline value for Ormes 1st Street in Purasaivakkam village (Purasaivakkam SRO, Chennai zone) is Rs 8800 per sq.ft, effective 1 July 2024. It was Rs 8000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Purasaivakkam

Village

Purasaivakkam

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹8800 /sq.ft.
From 1-4-2023 ₹8000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹5360 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹8000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2800 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

93/1, Bricklin Road, Otteri, Chennai- 600 012.
044-26623514
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ormes 1st Street

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Ormes 1st Street guideline value

The current guideline value of Ormes 1st Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Ormes 1st Street has changed

The guideline value for Ormes 1st Street has undergone several revisions over the years. In 2007, the value was Rs 2,800 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, it dropped to Rs 5,360 per sq.ft in 2017, before rising to Rs 8,000 per sq.ft again in 2023. The most recent revision in 2024 set the guideline value at Rs 8,800 per sq.ft.

Examining the changes, the value increased by 186% from 2007 to 2012, but then saw a decrease of 33% from 2012 to 2017. Following this, there was a substantial increase of 49% from 2017 to 2023, and a further increase of 10% from 2023 to 2024. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, making the 2024 figure for Ormes 1st Street above the median.

Stamp duty and registration fee for property in Ormes 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000, bringing the total costs together to Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ormes 1st Street?

The Sub Registrar Office that covers Ormes 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Purasaivakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for completing the transaction legally.

During the registration process, the buyer must ensure that the property is valued at or above the guideline value to avoid any legal complications. This value serves as a benchmark for both buyers and sellers, ensuring transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Ormes 1st Street?

The current guideline value of Ormes 1st Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Ormes 1st Street?

Ormes 1st Street is classified as Residential Class I Type - II.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Ormes 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty and registration fee of Rs 7,92,000.