Guideline Value for OTTEESWARAR KOIL STREET

Otteeswarar Koil Street guideline value

The current guideline value of Otteeswarar Koil Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ottiyampakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Otteeswarar Koil Street has changed

The guideline value for Otteeswarar Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision, marking a decrease of 33%. However, this was followed by a significant increase to Rs 1,800 per sq.ft in the 2023 revision, and the current 2024 revision has further increased it to Rs 1,950 per sq.ft, reflecting an 8% rise from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change in the guideline value is an increase of 8%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,950 per sq.ft, which aligns with the current guideline value of Otteeswarar Koil Street.

• Otteeswarar Nagar: Rs 1,950 per sq.ft (2024)
• Ottiambakkam Main Road: Rs 2,200 per sq.ft (2024)
• Ottiambakkam Odai Street: Rs 2,200 per sq.ft (2024)
• Ottiambakkam - Sithalapakkam Road (Gandhi Road): Rs 2,200 per sq.ft (2024)
• Ovvaiyar Street: Rs 1,950 per sq.ft (2024)
• Nehru Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Otteeswarar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, making the total cost Rs 1,75,500. 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 detailed calculations.

Which Sub Registrar Office covers Otteeswarar Koil Street?

The Sub Registrar Office that covers Otteeswarar Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Ottiyampakkam

The guideline value is a crucial factor in the registration process of property transactions in Ottiyampakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Otteeswarar Koil Street?

The current guideline value of Otteeswarar Koil Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and currently to Rs 1,950 per sq.ft in 2024.

What is the land classification for Otteeswarar Koil Street?

The land classification for Otteeswarar Koil Street is Residential Class I Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Otteeswarar Koil Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 19,50,000 would incur a stamp duty of Rs 1,36,500.