Guideline Value for OTHAVADAI STREET

Othavadai Street guideline value

The current guideline value of Othavadai Street in Puliyur village, under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class IV Type - II.

How the guideline value of Othavadai Street has changed

The guideline value for Othavadai Street has seen several revisions over the years. In 2002, the value was Rs 771 per sq.ft, which increased to Rs 847 per sq.ft in 2003, marking a change of +10%. The value then rose significantly to Rs 1,200 per sq.ft in 2007, reflecting a growth of +42%. This was followed by a substantial increase to Rs 4,000 per sq.ft in 2012, which represented a remarkable +233% change. However, there was a decrease to Rs 2,680 per sq.ft in 2017, with a decline of -33%. The value then increased again to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, an increase of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +471%. The register has no figures for the years between these revisions.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Othavadai Street's 2024 figure below that median.

• Padmanabha Nagar: Rs 5,000 per sq.ft (2024)
• Padmanabha Nagar Main Road: Rs 5,000 per sq.ft (2024)
• Padmanabha Pillai Street: Rs 5,800 per sq.ft (2024)
• N.T.R. Street: Rs 6,300 per sq.ft (2024)
• Palaniappan Street: Rs 3,800 per sq.ft (2024)
• North Mada Street: Rs 5,300 per sq.ft (2024)

Stamp duty and registration fee for property in Othavadai Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Othavadai Street?

The Sub Registrar Office that covers Othavadai Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Puliyur. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must reference the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value helps determine the legal value of the property for taxation purposes. This ensures that both parties in the transaction are aware of the official valuation set by the government, which is essential for a transparent and fair process.

Frequently asked questions

What is the current guideline value of Othavadai Street?

The current guideline value of Othavadai Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 771 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +471% over the years.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Othavadai Street?

The Kodambakkam Sub Registrar Office handles registrations for Othavadai Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the median guideline value for streets in Puliyur?

The median guideline value for streets in Puliyur is Rs 5,800 per sq.ft, which is higher than the current value of Othavadai Street.