Guideline Value for OVIYA NAGAR-123/2B2

Oviya Nagar-123/2b2 guideline value

The current guideline value of Oviya Nagar-123/2b2 is Rs 250 per sq.ft. This property is located in Venmanamputhur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Oviya Nagar-123/2b2 has changed

The guideline value for Oviya Nagar-123/2b2 has seen several revisions over the years. In 2012, the value was Rs 250 per sq.ft, which then decreased to Rs 167 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50% to reach Rs 250 per sq.ft again. The 2023 revision maintained the same value, and the current 2024 revision also holds at Rs 250 per sq.ft, indicating no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been no change in the guideline value, remaining at Rs 250 per sq.ft.

Guideline values in Venmanamputhur

In Venmanamputhur, there are 54 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft, with the median being Rs 200 per sq.ft. Oviya Nagar-123/2b2's 2024 figure of Rs 250 per sq.ft is above this median.

• Padmini Nagar: Rs 200 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 200 per sq.ft (2024)
• M.E. Nagar (S.No.179/1.2): Rs 200 per sq.ft (2024)
• Masila Mani Nagar: Rs 200 per sq.ft (2024)
• Manickam Nagar: Rs 200 per sq.ft (2024)
• Rayala Nagar(S.No.80/1a: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Oviya Nagar-123/2b2

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total cost Rs 22,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Oviya Nagar-123/2b2?

The Oviya Nagar-123/2b2 property falls under the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for additional information.

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

The guideline value is essential during property transactions in Venmanamputhur, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid penalties during the registration process.

When a property is bought or sold, the guideline value influences the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Oviya Nagar-123/2b2?

The current guideline value of Oviya Nagar-123/2b2 is Rs 250 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained Rs 250 per sq.ft in 2012, 2023, and 2024. It decreased to Rs 167 per sq.ft in 2017 and increased by 50% from 2017 to 2023.

What are the stamp duty and registration fees for property in Oviya Nagar-123/2b2?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total cost would be Rs 22,500.

Which Sub Registrar Office covers Oviya Nagar-123/2b2?

The Tiruvallur Joint 1 Sub Registrar Office covers Oviya Nagar-123/2b2, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the land classification for Oviya Nagar-123/2b2?

The land classification for Oviya Nagar-123/2b2 is Residential Class II Type - I.