Guideline Value for Orchid Villa Nagar

Orchid Villa Nagar guideline value

The current guideline value of Orchid Villa Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Kayirambedu village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Orchid Villa Nagar has changed

The guideline value for Orchid Villa Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 120 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value was adjusted to Rs 335 per sq.ft, marking a decrease of 33%. The 2023 revision maintained the value at Rs 500 per sq.ft, and the current 2024 revision has also kept it at Rs 500 per sq.ft, showing no change from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 317%, reflecting substantial growth over the years. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft, with a median value of Rs 700 per sq.ft. Orchid Villa Nagar's guideline value is below this median.

• Om Sakthi Nagar Avenue Extn -II: Rs 500 per sq.ft (2024)
• Om Sakthi Avenue: Rs 500 per sq.ft (2024)
• N. K. C. Nagar: Rs 700 per sq.ft (2024)
• Nethaji Nagar: Rs 700 per sq.ft (2024)
• Pragathi Enclave Phase 1: Rs 700 per sq.ft (2024)
• Pragathi Enclave Phase 2: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Orchid Villa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty, charged at 7%, would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Orchid Villa Nagar?

The Orchid Villa Nagar area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Kayirambedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Orchid Villa Nagar?

The current guideline value of Orchid Villa Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant increase occurring from Rs 120 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, and it has remained at Rs 500 per sq.ft since 2023.

What is the land classification of Orchid Villa Nagar?

Orchid Villa Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Orchid Villa Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at 7%.