Guideline Value for ODAIKUPPAM STREET

Odaikuppam Street guideline value

The current guideline value of Odaikuppam Street in Thiruvanmiyur village is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class V Type - III.

How the guideline value of Odaikuppam Street has changed

According to the guideline value register, the figures for Odaikuppam Street have undergone several revisions over the years. The 2002 revision recorded a guideline value of Rs 603 per sq.ft, which increased to Rs 667 per sq.ft in 2003, marking a change of +11%. The value then saw a significant rise to Rs 1,300 per sq.ft in 2007, a change of +95%. In 2012, the value was recorded at Rs 3,200 per sq.ft, reflecting an increase of +146% from the previous revision. However, this figure dropped to Rs 2,144 per sq.ft in 2017, a decrease of -33%. The 2023 revision set the value at Rs 3,200 per sq.ft, before the latest increase to Rs 3,520 per sq.ft in 2024, which is a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +484%. The register has no figures for the years between these revisions.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. Odaikuppam Street's current value is below this median.

• Odaikuppam Sea Shore Salai: Rs 11,000 per sq.ft (2024)
• Odaikuppam Amman Koil Back Side: Rs 3,520 per sq.ft (2024)
• N.S.K Street: Rs 7,150 per sq.ft (2024)
• N.S.K. 3rd Street: Rs 7,150 per sq.ft (2024)
• O.M.R.Road: Rs 12,650 per sq.ft (2024)
• North Tankview Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Odaikuppam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty, calculated at 7%, would be Rs 2,46,400, while the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Odaikuppam Street?

The Odaikuppam Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Odaikuppam Street?

The current guideline value of Odaikuppam Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 603 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of +484% over the years.

What are the stamp duty and registration fees for property in Odaikuppam Street?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 3,16,800.

Which Sub Registrar Office covers Odaikuppam Street?

The Chennai South Joint I Sub Registrar Office covers Odaikuppam Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Odaikuppam Street?

Odaikuppam Street is classified as Residential Class V Type - III, indicating its designation for residential purposes within the Chennai South Joint I SRO.