Guideline Value for Ovuliya Saheb 2nd Lane

Ovuliya Saheb 2nd Lane guideline value

The current guideline value of Ovuliya Saheb 2nd Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village under the Triplicane SRO, classified as Residential Class II Type - I.

How the guideline value of Ovuliya Saheb 2nd Lane has changed

The guideline value for Ovuliya Saheb 2nd Lane has seen several revisions over the years. The 2007 revision set the value at Rs 1,560 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking an increase of 221%. However, the value dropped to Rs 3,350 per sq.ft in the 2017 revision, a decrease of 33%. The most recent revision in 2024 has set the guideline value at Rs 5,500 per sq.ft, reflecting an increase of 64% from the previous figure.

There are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 253%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Ovuliya Saheb 2nd Lane's 2024 figure below that median.

• Ovuliya Saheb 1st Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 3rd Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 4th Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 5th Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 6th Lane: Rs 5,500 per sq.ft (2024)
• Pachaiyappan Chetty Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ovuliya Saheb 2nd Lane

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ovuliya Saheb 2nd Lane?

The Sub Registrar Office that covers Ovuliya Saheb 2nd Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the stamp duty, ensuring that the appropriate fees are collected based on the property's value.

Frequently asked questions

What is the current guideline value of Ovuliya Saheb 2nd Lane?

The current guideline value of Ovuliya Saheb 2nd Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,560 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 253% over the years.

What are the other streets in Triplicane with similar guideline values?

Other streets in Triplicane, such as Ovuliya Saheb 1st Lane, 3rd Lane, 4th Lane, 5th Lane, and 6th Lane, all share the same guideline value of Rs 5,500 per sq.ft in 2024.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7%, which is applied to the higher of the guideline value or the sale price during registration.

Where can I find the Sub Registrar Office for Ovuliya Saheb 2nd Lane?

The Sub Registrar Office for Ovuliya Saheb 2nd Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.