Guideline Value for OTTAKOOTHAR STREET (WARD -6)

Ottakoothar Street (Ward -6) guideline value

The current guideline value of Ottakoothar Street (Ward -6) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Ottakoothar Street (Ward -6) has changed

The guideline value for Ottakoothar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. Following this, the 2023 revision saw a significant increase to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,320 per sq.ft.

Examining the changes, from 2012 to 2017 there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The transition from 2023 to 2024 marked a 10% increase. Overall, the guideline value from 2012 to 2024 has increased by 10%. The register has no figure for this street for the years 2002, 2003, and 2007.

Guideline values in Panangottur

In Panangottur village, there are 419 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 990 per sq.ft. The guideline value for Ottakoothar Street is above this median.

• Paavanar Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Paavendar Steet (Ward -6): Rs 1,980 per sq.ft (2024)
• Om Sakthi Street (Ward -15): Rs 440 per sq.ft (2024)
• Paaventhar Street (Ward -5): Rs 1,980 per sq.ft (2024)
• Om Sakthi Street (Per): Rs 660 per sq.ft (2024)
• Paaventhar Street (Ward -7): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Ottakoothar Street (Ward -6)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. 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 -6)?

The Sub Registrar Office that covers Ottakoothar Street (Ward -6) 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 details.

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

The guideline value is a crucial factor when registering property transactions in Panangottur. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps establish a fair basis for the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Ottakoothar Street (Ward -6)?

The current guideline value of Ottakoothar Street (Ward -6) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Ottakoothar Street (Ward -6)?

Ottakoothar Street (Ward -6) is classified as Residential Special Type - V under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 13,20,000, the stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800.

Where can I find the Sub Registrar Office for Ottakoothar Street (Ward -6)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details online.