Guideline Value for OTTIAMBAKKAM SITHALAPAKKAM MAIN ROAD

Ottiambakkam Sithalapakkam Main Road guideline value

The current guideline value of Ottiambakkam Sithalapakkam Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Chitthalapakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Ottiambakkam Sithalapakkam Main Road has changed

The guideline value for Ottiambakkam Sithalapakkam Main Road has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. The guideline value for Ottiambakkam Sithalapakkam Main Road is above this median.

• N.S.K. Street: Rs 2,900 per sq.ft (2024)
• Palm Avenue: Rs 3,300 per sq.ft (2024)
• Palm Avenue Extension: Rs 3,300 per sq.ft (2024)
• Nethaji Street: Rs 2,400 per sq.ft (2024)
• Nagalakshmi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Nagalakshmi Nagar: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ottiambakkam Sithalapakkam Main Road?

The Ottiambakkam Sithalapakkam 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 Chitthalapakkam

The guideline value is a crucial factor when registering property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property based on the latest revisions. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Ottiambakkam Sithalapakkam Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the other streets in Chitthalapakkam and their guideline values?

Other streets in Chitthalapakkam include N.S.K. Street at Rs 2,900 per sq.ft, Palm Avenue at Rs 3,300 per sq.ft, and several others with varying guideline values.

What is the stamp duty rate for properties in Ottiambakkam Sithalapakkam Main Road?

The stamp duty rate for properties in this area is 7% of the guideline value or sale price, whichever is higher.

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.