Guideline Value for OTTIAMBAKKAM - SITHALAPAKKAM ROAD

Ottiambakkam - Sithalapakkam Road guideline value

The current guideline value of Ottiambakkam - Sithalapakkam Road is Rs 2,100 per sq.ft, effective from 1 July 2024. This road is located in Arasankalani village and falls under the Selaiyur Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Ottiambakkam - Sithalapakkam Road has changed

The guideline value for Ottiambakkam - Sithalapakkam Road has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,100 per sq.ft, representing a 5% 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 5%.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value for these streets is Rs 2,100 per sq.ft, which is equal to the guideline value of Ottiambakkam - Sithalapakkam Road.

• Ottiyambakkam-Chithalapakkam Road: Rs 2,100 per sq.ft (2024)
• Nookampalayam Main Road: Rs 2,100 per sq.ft (2024)
• Palvadi Palli Road: Rs 1,300 per sq.ft (2024)
• Pazhandiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Perumal Koil Street: Rs 1,300 per sq.ft (2024)
• M.V.Sai Nagar: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ottiambakkam - Sithalapakkam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total charges to Rs 1,89,000. Please 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 information.

Which Sub Registrar Office covers Ottiambakkam - Sithalapakkam Road?

The Ottiambakkam - Sithalapakkam Road is covered by the Selaiyur Sub Registrar Office. The address is 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arasankalani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable charges, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ottiambakkam - Sithalapakkam Road?

The current guideline value of Ottiambakkam - Sithalapakkam Road is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,100 per sq.ft in 2024, reflecting a 5% increase. It was Rs 1,340 per sq.ft in 2017, which was a decrease from Rs 2,000 per sq.ft in 2012.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Selaiyur Sub Registrar Office?

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

What is the median guideline value in Arasankalani?

The median guideline value for streets in Arasankalani is Rs 2,100 per sq.ft, with values ranging from Rs 1,300 to Rs 4,750 per sq.ft.