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, as per the 2024 revision effective from 1 July 2024. This street is located in Vallancheri 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

Over the years, the guideline value of Ottakoothar Street has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which was then decreased to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and then further to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year. Notably, the register has no figures for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the value experienced a decrease of 33%, but from 2017 to 2023, it increased by 49%. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 825 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, making the total fees together 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 details.

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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Vallancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both parties involved in the transaction. It is crucial to be aware of the current guideline value to avoid any discrepancies during the registration process.

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 land classification for Ottakoothar Street?

Ottakoothar Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

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

How is stamp duty calculated for properties in Ottakoothar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 79,200.