Guideline Value for Ovuliya Saheb 4th Lane

Ovuliya Saheb 4th Lane guideline value

The current guideline value of Ovuliya Saheb 4th 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 4th Lane has changed

The guideline value for Ovuliya Saheb 4th Lane has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 1,560 per sq.ft. This figure increased significantly to Rs 5,000 per sq.ft in 2012, marking a 221% rise. However, in 2017, the value decreased to Rs 3,350 per sq.ft, which was a decline of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, 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 in this area is Rs 6,600 per sq.ft, positioning the 2024 figure for Ovuliya Saheb 4th Lane below this median.

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

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

Which Sub Registrar Office covers Ovuliya Saheb 4th Lane?

The Sub Registrar Office that covers Ovuliya Saheb 4th 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are calculated based on the official valuation rather than the sale price alone.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly impact the overall costs involved in the transaction. Buyers should ensure that they are prepared for these expenses when planning their property dealings.

Frequently asked questions

What is the current guideline value of Ovuliya Saheb 4th Lane?

The current guideline value of Ovuliya Saheb 4th 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 stamp duty and registration fees for property transactions?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations in Triplicane?

The Triplicane Sub Registrar Office handles property registrations in Triplicane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Ovuliya Saheb 4th Lane?

Ovuliya Saheb 4th Lane is classified as Residential Class II Type - I, indicating its designation for residential use.