Guideline Value for Ongoor

Ongoor guideline value

The current guideline value of Ongoor, located in Uthiramerur village under the Uthiramerur SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Ongoor has changed

The guideline value for Ongoor has undergone several revisions over the years. In 2007, the value was set at Rs 50 per sq.ft, which saw a significant increase to Rs 700 per sq.ft in 2012. However, in 2017, the value dropped to Rs 469 per sq.ft. The 2023 revision maintained the value at Rs 700 per sq.ft, and the same value continues into the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 1300%. Overall, from 2007 to 2024, the guideline value has increased by 1300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO with a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft. The median value for these streets is Rs 800 per sq.ft, placing Ongoor's guideline value below this median.

• Notrh Reddy street: Rs 1,000 per sq.ft (2024)
• Nookkalamman Koil Street: Rs 600 per sq.ft (2024)
• New Vip Nagar: Rs 501 per sq.ft (2024)
• Panjanga Iyyar Street: Rs 1,500 per sq.ft (2024)
• Neeradi West Street: Rs 700 per sq.ft (2024)
• Neeradi South Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Ongoor

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the 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 further assistance.

Which Sub Registrar Office covers Ongoor?

The Sub Registrar Office that covers Ongoor is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the registration fees and stamp duty when buying or selling property in Uthiramerur. It serves as a benchmark for the valuation of properties, ensuring that the registration process is transparent and standardized.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ongoor?

The current guideline value of Ongoor is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and remained at Rs 700 per sq.ft in 2023 and 2024.

What are the other street guideline values in Uthiramerur?

Other streets in Uthiramerur have varying guideline values, ranging from Rs 200 to Rs 1,800 per sq.ft, with a median of Rs 800 per sq.ft.

What are the stamp duty and registration fees for property in Ongoor?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total costs can amount to Rs 63,000.

Where is the Sub Registrar Office for Ongoor located?

The Sub Registrar Office for Ongoor is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.