Guideline Value for Orient Nagar

Orient Nagar guideline value

The current guideline value of Orient Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Tharavoor village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Orient Nagar has changed

In the 2012 revision, the guideline value was Rs 250 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 167 per sq.ft, reflecting a -33% change. The value then increased by 50% to Rs 250 per sq.ft in the 2023 revision, which was maintained in the 2024 revision, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Orient Nagar. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 250 per sq.ft.

Guideline values in Tharavoor

In Tharavoor, there are six streets under the Sriperumpudur SRO with a guideline value for 2024 ranging from Rs 250 to Rs 400 per sq.ft. The median value for these streets is Rs 400 per sq.ft, indicating that Orient Nagar's 2024 figure is below that median.

• Ranjitham Nagar: Rs 400 per sq.ft (2024)
• Gurusakthi Nagar: Rs 400 per sq.ft (2024)
• Chelliamman Nagar: Rs 400 per sq.ft (2024)
• Velankanni Nagar: Rs 250 per sq.ft (2024)
• Bhavani Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Orient Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total 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, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Orient Nagar?

The Sub Registrar Office that covers Orient Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tharavoor. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer is required to pay the stamp duty based on the guideline value or the sale price, whichever is higher. 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 Orient Nagar?

The current guideline value of Orient Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 250 per sq.ft in both the 2023 and 2024 revisions. It previously decreased to Rs 167 per sq.ft in 2017 but returned to Rs 250 per sq.ft thereafter.

What is the land classification of Orient Nagar?

Orient Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 22,500.

Where is the Sub Registrar Office for Orient Nagar located?

The Sub Registrar Office covering Orient Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.