Guideline Value for OUTER RING ROAD

Outer Ring Road guideline value

The current guideline value of Outer Ring Road in Puthubakkam village is Rs 249 per sq.ft, effective from 1 July 2024. This area falls under the Thiruvottiyur Sub Registrar Office (SRO) and is classified as Commercial Special Type - I.

How the guideline value of Outer Ring Road has changed

The guideline value for Outer Ring Road has undergone several revisions over the years. The 2012 revision set the value at Rs 225 per sq.ft, which decreased to Rs 151 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 226 per sq.ft, and the most recent 2024 revision has raised it further to Rs 249 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2017, there was a significant decrease of 33%. However, the value saw a substantial increase of 50% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthubakkam

Puthubakkam village has a range of guideline values across its streets, with figures for the year 2024 ranging from Rs 165 to Rs 249 per sq.ft. The median value for the village is Rs 248 per sq.ft, placing Outer Ring Road's 2024 figure above this median.

• Madhurai Meenakshi Nagar: Rs 248 per sq.ft (2024)
• Sri Karumaniamman Nagar: Rs 248 per sq.ft (2024)
• Sri Krishna Nagar/Ext/Phases: Rs 248 per sq.ft (2024)
• Sri Padmavathy Nagar: Rs 248 per sq.ft (2024)
• Sri Sankaran Vetrivel Garden: Rs 248 per sq.ft (2024)
• Balamurugan Nagar: Rs 165 per sq.ft (2024)

Stamp duty and registration fee for property in Outer Ring Road

For a 1,000 sq.ft plot at the current guideline value of Rs 249 per sq.ft, the total guideline value would be Rs 2,49,000. The stamp duty at 7% would amount to Rs 17,430, while the registration fee at 2% would be Rs 4,980. Together, the total fees would be Rs 22,410. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Outer Ring Road?

The Outer Ring Road is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puthubakkam. It determines the stamp duty and registration fees that must be paid, ensuring that transactions are conducted according to the official valuations set by the government.

When a property is sold, the guideline value is used to assess the applicable fees, which are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Outer Ring Road?

The current guideline value of Outer Ring Road in Puthubakkam village is Rs 249 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, then increased to Rs 226 per sq.ft in 2023, and finally to Rs 249 per sq.ft in 2024.

What is the median guideline value in Puthubakkam?

The median guideline value in Puthubakkam village for 2024 is Rs 248 per sq.ft, with Outer Ring Road's value being above this median.

What are the stamp duty and registration fees for property in Outer Ring Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 249 per sq.ft, the total fees would amount to Rs 22,410.

Where is the Thiruvottiyur Sub Registrar Office located?

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