Guideline Value for OTTERI NULLAH

Otteri Nullah guideline value

The current guideline value of Otteri Nullah is Rs 4,900 per sq.ft, effective from 1 July 2024. This area is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Otteri Nullah has changed

The guideline value for Otteri Nullah has seen several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it decreased to Rs 3,015 per sq.ft in 2017 before rising again to Rs 4,500 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 4,900 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 was 9%. Notably, the overall increase from 2007 to 2024 is 172%, showcasing a significant rise over the years.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, making the Otteri Nullah guideline value below this median.

• Otthavadai Street: Rs 4,900 per sq.ft (2024)
• Ormes Street & Road: Rs 13,200 per sq.ft (2024)
• Ormes Road 4th Cross Street: Rs 8,800 per sq.ft (2024)
• Ormes Road 3rd Cross Street: Rs 8,800 per sq.ft (2024)
• Ormes Road 2nd Cross Street: Rs 8,800 per sq.ft (2024)
• Ormes Road 1st Cross Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Otteri Nullah

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Otteri Nullah?

The Sub Registrar Office that covers Otteri Nullah is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. This ensures that the transaction is recorded at a value that reflects the current market conditions as set by the Registration Department.

Frequently asked questions

What is the current guideline value of Otteri Nullah?

The current guideline value of Otteri Nullah is Rs 4,900 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 2007 to Rs 4,900 per sq.ft in 2024, with several revisions in between. The most significant increase was from 2012 to 2017, where it decreased, followed by a substantial rise in subsequent years.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, which is higher than the guideline value of Otteri Nullah.

What are the stamp duty and registration fees for property in Otteri Nullah?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 49,00,000, the total fees would be Rs 4,41,000.

Where is the Sub Registrar Office for Otteri Nullah located?

The Sub Registrar Office for Otteri Nullah is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.