Guideline Value for OTTIAMBAKKAM MAIN ROAD

Ottiambakkam Main Road guideline value

The current guideline value of Ottiambakkam Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Ottiyampakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Ottiambakkam Main Road has changed

Over the years, the guideline value for Ottiambakkam Main Road has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft. The register has no figure for the years 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. The jump from 2017 to 2023 was a substantial 49%, while the value dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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, making the current guideline value of Ottiambakkam Main Road above this median.

• Ottiambakkam Odai Street: Rs 2,200 per sq.ft (2024)
• Otteeswarar Nagar: Rs 1,950 per sq.ft (2024)
• Otteeswarar Koil Street: Rs 1,950 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 Ottiambakkam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ottiambakkam Main Road?

The Ottiambakkam Main Road falls under 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 plays a crucial role in the registration process when buying or selling property in Ottiyampakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Ottiambakkam Main Road?

The current guideline value of Ottiambakkam Main Road is Rs 2,200 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 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Ottiambakkam Main Road?

Ottiambakkam Main Road is classified as Residential Special Type - I.

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.

How is the stamp duty calculated for properties in Ottiambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.