Guideline Value for OTHAVAADAI 1ST STREET

Othavaadai 1st Street guideline value

The current guideline value of Othavaadai 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village, under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Othavaadai 1st Street has changed

The guideline value for Othavaadai 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,206 per sq.ft. The 2023 revision then increased the value to Rs 1,800 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Othavaadai 1st Street is below this median.

• Othavaadai 2nd Street: Rs 1,980 per sq.ft (2024)
• Othavaadai Street: Rs 1,980 per sq.ft (2024)
• Nathan Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Natesan Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Natesan Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Natesan Nagar 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Othavaadai 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Othavaadai 1st Street?

The Sub Registrar Office that covers Othavaadai 1st Street is 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 Iyyappanthangal

The guideline value plays a crucial role in property transactions in Iyyappanthangal. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware that the guideline value is the baseline for calculating these fees.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Othavaadai 1st Street?

The current guideline value of Othavaadai 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024, a 10% increase. It was Rs 1,206 per sq.ft in 2017, and Rs 1,800 per sq.ft in 2012, with various changes occurring in between.

What is the land classification for Othavaadai 1st Street?

The land classification for Othavaadai 1st Street is Residential Class III Type - I.

What are the other streets in Iyyappanthangal with similar guideline values?

Other streets in Iyyappanthangal with similar guideline values include Othavaadai 2nd Street, Othavaadai Street, and Nathan Nagar Main Road, all at Rs 1,980 per sq.ft for 2024.

Where can I find the Sub Registrar Office for Othavaadai 1st Street?

The Sub Registrar Office for Othavaadai 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.