Guideline Value for OTTAKOOTHAR STREET (WARD-20)

Ottakoothar Street (Ward-20) guideline value

The current guideline value of Ottakoothar Street (Ward-20) is Rs 881 per sq.ft, effective from 1 July 2024. This street is located in Thailavaram village, under the Chengleput Joint II SRO, and is classified as 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 the 2012 revision, the value was set at Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in the 2017 revision. However, the value rebounded significantly in the 2023 revision to Rs 800 per sq.ft, and further increased to Rs 881 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

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

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value of Rs 881 per sq.ft for Ottakoothar Street is 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 881 per sq.ft (2024)
• Nehru Street(Ward-21): Rs 660 per sq.ft (2024)
• Parasakthi Street (Ward-20): Rs 881 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 881 per sq.ft, the total guideline value would be Rs 8,81,000. The stamp duty at 7% would be Rs 61,670, and the registration fee at 2% would be Rs 17,620, bringing the total cost for these fees to Rs 79,290. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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 more details.

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

The guideline value is a crucial component in the property registration process in Thailavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

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 881 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 to Rs 800 per sq.ft in 2023, and finally to Rs 881 per sq.ft in 2024.

What is the land classification for Ottakoothar Street?

Ottakoothar Street is classified as Residential Class I Type - II.

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

The Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 79,290.