Guideline Value for OTTAR KUDIL SRTEET

Ottar Kudil Srteet guideline value

The current guideline value of Ottar Kudil Srteet is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village and falls under the Walajabad SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Ottar Kudil Srteet has changed

Over the years, the guideline value of Ottar Kudil Srteet has seen several revisions. The 2007 revision recorded a value of Rs 60 per sq.ft, which increased significantly to Rs 750 per sq.ft in the 2012 revision. However, it then decreased to Rs 502 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 750 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The substantial jump from 2007 to 2012 saw a rise of 1150%. Overall, from 2007 to 2024, the guideline value has increased by 1150%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft. The guideline value of Ottar Kudil Srteet aligns with this median.

• N.G.O. Nagar Annexure -III: Rs 750 per sq.ft (2024)
• N.G.O. Nagar: Rs 750 per sq.ft (2024)
• Palakara Second Street: Rs 750 per sq.ft (2024)
• Palayakara First Street: Rs 750 per sq.ft (2024)
• Palayakara Forth Street: Rs 750 per sq.ft (2024)
• Palayakara Third Srteet: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Ottar Kudil Srteet

For a 1,000 sq.ft plot at the current rate of Rs 750 per sq.ft, the guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, while the registration fee at 2% would be Rs 15,000, totaling Rs 67,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ottar Kudil Srteet?

The Sub Registrar Office that covers Ottar Kudil Srteet is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Walajabad. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ottar Kudil Srteet?

The current guideline value of Ottar Kudil Srteet is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, then decreased to Rs 502 per sq.ft in 2017, and remained at Rs 750 per sq.ft in 2023 and 2024.

What is the land classification for Ottar Kudil Srteet?

The land classification for Ottar Kudil Srteet is Residential Class IV Type - I.

Where can I find the registration office for Ottar Kudil Srteet?

The registration office for Ottar Kudil Srteet is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Ottar Kudil Srteet?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, a 1,000 sq.ft plot at Rs 750 per sq.ft would incur a stamp duty of Rs 52,500.