Guideline Value for OTTAKOOTHAR STREET (WARD-20)

Ottakoothar Street (Ward-20) guideline value

The current guideline value of Ottakoothar Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO, with a land classification of Residential Class I Type - II.

How the guideline value of Ottakoothar Street (Ward-20) has changed

The guideline value for Ottakoothar Street has undergone several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, marking a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Ottakoothar Street. Overall, from the 2012 revision to the current 2024 figure, there has been a 10% increase in the guideline value.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO, with guideline values for 2024 ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value in the village is Rs 770 per sq.ft, placing Ottakoothar Street's 2024 figure above this median.

• Padma Nagar (Ward -1): Rs 1,650 per sq.ft (2024)
• Pajanaikoil Street Potheri (Ward-20): Rs 1,100 per sq.ft (2024)
• Pandiyan Nagar (Val): Rs 880 per sq.ft (2024)
• Nehru Street(Ward-21): Rs 660 per sq.ft (2024)
• Parasakthi Street (Ward-20): Rs 880 per sq.ft (2024)
• Neenjili Amman Koil Stret (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ottakoothar Street (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. 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 detailed calculations.

Which Sub Registrar Office covers Ottakoothar Street (Ward-20)?

The Sub Registrar Office that covers Ottakoothar Street (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002., Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property registration in Konathi. It serves as a benchmark for determining the minimum value at which properties can be registered. This ensures that the government receives appropriate revenue from property transactions.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value for Ottakoothar Street (Ward-20)?

The current guideline value for Ottakoothar Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What are the other streets in Konathi with their guideline values?

Other streets in Konathi have varying guideline values. For instance, Padma Nagar is Rs 1,650 per sq.ft, while Pajanaikoil Street Potheri is Rs 1,100 per sq.ft.

What fees are associated with property transactions on Ottakoothar Street?

For a property on Ottakoothar Street, the stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. Together, these fees can add up significantly based on the property's size and guideline value.

Where can I find the Sub Registrar Office for Ottakoothar Street?

The Sub Registrar Office for Ottakoothar Street (Ward-20) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002., Chengalpattu registration zone.