Guideline Value for O.H.T. Road

O.H.T. Road guideline value

The current guideline value of O.H.T. Road in Kottivakkam village under the Adayar SRO is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of O.H.T. Road has changed

The guideline value for O.H.T. Road has seen several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft.

Between the revisions, the changes are notable. The increase from 2023 to 2024 was +11%, while the jump from 2017 to 2023 was +49%. The overall change from 2012 to 2024 reflects a +11% increase, despite the decrease of -33% from 2012 to 2017.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is the same as the current value for O.H.T. Road. Below are some other streets in Kottivakkam:

• OMR (Rajiv Gandhi Salai): Rs 6,100 per sq.ft (2024)
• New Colony Main Road: Rs 3,900 per sq.ft (2024)
• New Colony 2nd Street: Rs 1,700 per sq.ft (2024)
• New Colony 1st Street: Rs 1,700 per sq.ft (2024)
• Nehru Nagar Kamaraj Street: Rs 4,401 per sq.ft (2024)
• Nehru Nagar 1st Main Road: Rs 4,401 per sq.ft (2024)

Stamp duty and registration fee for property in O.H.T. Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. 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 information.

Which Sub Registrar Office covers O.H.T. Road?

The Sub Registrar Office that covers O.H.T. Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kottivakkam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

When registering a property, the guideline value ensures that all transactions are conducted at a fair and transparent price. This helps to maintain the integrity of property transactions and ensures that the government receives the appropriate revenue from stamp duties and registration fees.

Frequently asked questions

What is the current guideline value of O.H.T. Road?

The current guideline value of O.H.T. Road is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024. The value also decreased from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017.

What is the land classification for O.H.T. Road?

O.H.T. Road is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in O.H.T. Road?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office is responsible for O.H.T. Road?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, is responsible for O.H.T. Road.