Guideline Value for OTTIYAMBAKKAM-CHITHALAPAKKAM ROAD

Ottiyambakkam-Chithalapakkam Road guideline value

The current guideline value of Ottiyambakkam-Chithalapakkam Road is Rs 2,100 per sq.ft, effective from 1 July 2024. This road is located in Arasankalani village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ottiyambakkam-Chithalapakkam Road has changed

Over the years, the guideline value for Ottiyambakkam-Chithalapakkam Road has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was followed by a decrease to Rs 1,340 per sq.ft in 2017. 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 2,100 per sq.ft, marking a 5% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 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 is Rs 2,100 per sq.ft, which is equal to the current guideline value of Ottiyambakkam-Chithalapakkam Road.

• Ottiambakkam - Sithalapakkam 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 Ottiyambakkam-Chithalapakkam 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 to Rs 1,89,000. 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 details.

Which Sub Registrar Office covers Ottiyambakkam-Chithalapakkam Road?

The Sub Registrar Office that covers Ottiyambakkam-Chithalapakkam Road is 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 Arasankalani

The guideline value is a crucial factor in property transactions in Arasankalani, as it determines the minimum value at which a property can be registered. This value is used by the registration department to calculate the stamp duty and registration fees applicable to the property.

When buying or selling property, the guideline value helps ensure that both parties are aware of the minimum value set by the government. It is essential for buyers and sellers to consider this value during negotiations and registration processes.

Frequently asked questions

What is the current guideline value for Ottiyambakkam-Chithalapakkam Road?

The current guideline value for Ottiyambakkam-Chithalapakkam 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 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 2,100 per sq.ft in 2024.

What is the land classification for Ottiyambakkam-Chithalapakkam Road?

Ottiyambakkam-Chithalapakkam Road is classified as Residential Class I Type - I.

Where is the Selaiyur Sub Registrar Office located?

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 Ottiyambakkam-Chithalapakkam Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000.