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 Potheri 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 seen several revisions over the years. In 2012, the guideline value was Rs 800 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 536 per sq.ft. 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.

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

Guideline values in Potheri

In Potheri, there are 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value is Rs 770 per sq.ft, placing Ottakoothar Street's 2024 figure above this median.

• Padma Nagar (Ward -1): Rs 1,651 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 would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

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

Ottakoothar Street (Ward-20) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Potheri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the actual sale price. This ensures that the state receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of 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 is the median guideline value in Potheri?

The median guideline value in Potheri is Rs 770 per sq.ft, with Ottakoothar Street's 2024 figure of Rs 880 per sq.ft being above this median.

What are the stamp duty and registration fees for a property on Ottakoothar Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Ottakoothar Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Ottakoothar Street (Ward-20), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.