Guideline Value for Ovuliya Saheb 5th Lane

Ovuliya Saheb 5th Lane guideline value

The current guideline value of Ovuliya Saheb 5th 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 5th Lane has changed

The guideline value for Ovuliya Saheb 5th Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,560 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, this figure decreased to Rs 3,350 per sq.ft in 2017. Following this, the value rose significantly to Rs 5,000 per sq.ft in 2023, and it has now reached Rs 5,500 per sq.ft in the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while there was a decrease of 33% from 2012 to 2017. The value saw a substantial rise of 221% from 2007 to 2012. 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 with 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 the 2024 figure for Ovuliya Saheb 5th Lane below this median.

• Ovuliya Saheb 4th Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 6th Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 3rd Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 2nd Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 1st 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 5th 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, leading to a total of Rs 4,95,000. 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 details.

Which Sub Registrar Office covers Ovuliya Saheb 5th Lane?

The Sub Registrar Office that covers Ovuliya Saheb 5th 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 a crucial factor in the registration process when buying or selling property in Triplicane. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during property transactions.

Frequently asked questions

What is the current guideline value of Ovuliya Saheb 5th Lane?

The current guideline value of Ovuliya Saheb 5th 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% since 2007.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% and the registration fee is 2% of the guideline value, which for a 1,000 sq.ft plot at Rs 5,500 per sq.ft totals Rs 4,95,000 in fees.

Which office handles property registrations in Triplicane?

The Triplicane Sub Registrar Office handles property registrations for Ovuliya Saheb 5th Lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

Where can I find more information on guideline values in Triplicane?

More information on guideline values in Triplicane can be found on the official registration department's website or by checking the guideline value register.