Guideline Value for Odai Street

Odai Street guideline value

The current guideline value of Odai Street in Zaminpallavaram village, under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Odai Street has changed

The guideline value for Odai Street has undergone several revisions over the years. In 2003, the value was set at Rs 181 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a 231% rise. The value remained unchanged at Rs 3,000 per sq.ft from 2012 until the 2023 revision, where it was again Rs 3,000 per sq.ft. The most recent revision in 2024 saw an increase to Rs 3,300 per sq.ft, which is a 10% rise from the previous year.

Notably, there are no figures available for the years 2017 and 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 1723%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Odai Street.

• Omanathapillai Avenue P.t.1: Rs 2,100 per sq.ft (2024)
• North Subramaniyar Koil 1st St.: Rs 2,160 per sq.ft (2024)
• North Sanjay Gandhi Nagar: Rs 2,100 per sq.ft (2024)
• North Dharka Road: Rs 2,750 per sq.ft (2024)
• Om Sakthi Nagar: Rs 2,160 per sq.ft (2024)
• Nilagandan 2nd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Odai Street

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

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Odai Street?

The Sub Registrar Office that covers Odai Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees reflect the current market conditions and values.

Frequently asked questions

What is the current guideline value of Odai Street?

The current guideline value of Odai Street 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 181 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting a significant overall increase of 1723% over the years.

What is the land classification of Odai Street?

Odai Street is classified under Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Odai Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registration for Odai Street?

The Pallavaram Sub Registrar Office handles property registration for Odai Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.