Guideline Value for NANDI ODAI STREET

Nandi Odai Street guideline value

The current guideline value of Nandi Odai Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Nandi Odai Street has changed

The guideline value for Nandi Odai Street has seen several revisions over the years. In 2002, the value was Rs 308 per sq.ft, which increased to Rs 363 per sq.ft in 2003. The following revisions showed a significant rise, with the value reaching Rs 600 per sq.ft in 2007. By 2012, the guideline value was Rs 2,600 per sq.ft, and it remained the same until the 2017 revision, which recorded a decrease to Rs 1,742 per sq.ft. The value then rose to Rs 2,600 per sq.ft in 2023, before reaching the current rate of Rs 2,800 per sq.ft in 2024.

From 2017 to 2023, there was an increase of 49%, while the jump from 2023 to 2024 was 8%. Notably, the overall change from 2002 to 2024 reflects an increase of 809% in the guideline value for Nandi Odai Street.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Nandi Odai Street is below this median.

• Nalla Thanneer Odai Kuppam: Rs 2,150 per sq.ft (2024)
• Nataraja Gramani Thottam Street: Rs 3,300 per sq.ft (2024)
• Nadapai Thottam: Rs 3,300 per sq.ft (2024)
• Nehru Nagar: Rs 1,500 per sq.ft (2024)
• Nellikkaran Street: Rs 3,300 per sq.ft (2024)
• Nethaji Nagar /Streets: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandi Odai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, these fees would total Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nandi Odai Street?

The Sub Registrar Office that covers Nandi Odai Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Thiruvottiyur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

When registering a property, it is essential to consider the guideline value, as it ensures compliance with local regulations and helps in the accurate calculation of the associated fees. Understanding the guideline value can help buyers and sellers navigate the registration process more effectively.

Frequently asked questions

What is the current guideline value of Nandi Odai Street?

The current guideline value of Nandi Odai Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 308 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 809% over this period.

What is the land classification for Nandi Odai Street?

Nandi Odai Street is classified as Residential Special Type - III, indicating its designation for residential purposes within the area.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the total fees would be Rs 2,52,000, including both stamp duty and registration fees.