Guideline Value for OTTHA VAADAI STREET

Ottha Vaadai Street guideline value

The current guideline value of Ottha Vaadai Street is Rs 401 per sq.ft, effective from 1 July 2024. This street is located in Karunguzhi village, under the Madurandakam SRO, and is classified as Mixed Type - I land.

How the guideline value of Ottha Vaadai Street has changed

Over the years, the guideline value of Ottha Vaadai Street has undergone several revisions. The earliest revision available is from 2007, which set the value at Rs 80 per sq.ft. This figure increased significantly to Rs 400 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 268 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 400 per sq.ft in 2023, and it remained unchanged at Rs 401 per sq.ft in the 2024 revision.

The revisions for the years 2002 and 2003 do not have figures for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 401%.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 401 to Rs 1,000 per sq.ft. The median value is Rs 401 per sq.ft, which is the same as the guideline value for Ottha Vaadai Street.

• Old Post Office Street: Rs 401 per sq.ft (2024)
• North Pillayar Koil Street: Rs 401 per sq.ft (2024)
• PALLA PETTAI (a) KAIKKOLAR PETTAI: Rs 600 per sq.ft (2024)
• Parvatha Rajagula Street: Rs 401 per sq.ft (2024)
• Navidhar Street: Rs 401 per sq.ft (2024)
• Pattai Street: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Ottha Vaadai Street

For a 1,000 sq.ft plot at the current rate of Rs 401 per sq.ft, the guideline value amounts to Rs 4,01,000. The stamp duty at 7% would be Rs 28,070, while the registration fee at 2% would be Rs 8,020, making the total fees together Rs 36,090. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Ottha Vaadai Street?

The Sub Registrar Office that covers Ottha Vaadai Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Karunguzhi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the minimum value at which a property can be registered. This ensures transparency in property dealings and helps avoid disputes regarding property valuation.

Frequently asked questions

What is the current guideline value of Ottha Vaadai Street?

The current guideline value of Ottha Vaadai Street is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, showing an overall increase of 401% over the years.

Which Sub Registrar Office handles registrations for Ottha Vaadai Street?

The Madurandakam Sub Registrar Office handles registrations for Ottha Vaadai Street, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What are the stamp duty and registration fees for properties in Ottha Vaadai Street?

For a property valued at Rs 4,01,000, the stamp duty would be Rs 28,070, and the registration fee would be Rs 8,020, totaling Rs 36,090.

Where can I find more information about the guideline values in Karunguzhi?

You can find more information about the guideline values in Karunguzhi by checking the registration department's guideline value register or visiting the Madurandakam SRO.