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 Sattamangalam village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

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

Looking at the revisions, the guideline value for Ottakoothar Street (Ward -6) has seen several changes over the years. In 2012, the value was Rs 1,200 per sq.ft, which then dropped to Rs 804 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,200 per sq.ft again. The most recent revision in 2024 has set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that 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 Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, and Ottakoothar Street's 2024 figure of Rs 1,320 per sq.ft is above this median.

• Osiya Nagar: Rs 990 per sq.ft (2024)
• 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)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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. To find your specific SRO, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. This value is set by the government and is updated periodically based on various factors.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing underreporting of sale prices. Buyers and sellers must be aware of the current guideline value to understand their financial obligations 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 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 (Ward -6)?

Ottakoothar Street (Ward -6) is classified as Residential Special Type - V.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sattamangalam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.