Guideline Value for Ovuliya Saheb 3rd Lane

Ovuliya Saheb 3rd Lane guideline value

The current guideline value of Ovuliya Saheb 3rd Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ovuliya Saheb 3rd Lane has changed

The guideline value for Ovuliya Saheb 3rd Lane has seen several revisions over the years. In 2007, the value was Rs 1,560 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 221%. However, it then decreased to Rs 3,350 per sq.ft in 2017, which represented a decline of 33%. The value further increased to Rs 5,000 per sq.ft in 2023, and then to the current rate of Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 253%. The register does not have figures for the years 2002 and 2003 for this street.

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, with a median value of Rs 6,600 per sq.ft. The guideline value of Rs 5,500 per sq.ft for Ovuliya Saheb 3rd Lane is below this median.

• Ovuliya Saheb 2nd Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 4th Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 1st 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 3rd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total 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, leading to a total of Rs 4,95,000. Please note that the 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 3rd Lane?

The Sub Registrar Office that covers Ovuliya Saheb 3rd Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ovuliya Saheb 3rd Lane?

The current guideline value of Ovuliya Saheb 3rd 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 is the land classification for Ovuliya Saheb 3rd Lane?

Ovuliya Saheb 3rd Lane is classified as Residential Class II Type - I.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Ovuliya Saheb 3rd Lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.