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 Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

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

The guideline value for Ottakoothar Street (Ward -6) has undergone several revisions over the years. In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This value decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the subsequent 2023 revision, the value increased significantly to Rs 1,200 per sq.ft, followed by a further increase to Rs 1,320 per sq.ft in the 2024 revision, representing a 10% rise.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, when comparing the 2012 revision to the 2024 revision, the guideline value has seen a total increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values for 2024 ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Ottakoothar Street's 2024 figure above that 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 550 per sq.ft (2024)
• Paaventhar Street (Ward -5): Rs 1,980 per sq.ft (2024)
• Om Sakthi Street (Per): Rs 661 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, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Peramanoor, as it serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it affects the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the latest revisions in the guideline value register.

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 back 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 for Ottakoothar Street?

Ottakoothar Street is classified as Residential Special Type - V, which indicates its designated use for residential purposes.

What are the registration fees based on the guideline value?

Registration fees are calculated based on the guideline value. For example, for a plot of 1,000 sq.ft at Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000, with stamp duty and registration fees amounting to Rs 1,18,800.

Where is the Sub Registrar Office for Ottakoothar Street located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone, which covers Ottakoothar Street (Ward -6).