Guideline Value for Odai Street

Odai Street guideline value

The current guideline value of Odai Street in Adambakkam village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Odai Street has changed

The guideline value for Odai Street has seen significant changes over the years. In 2002, the value was Rs 291 per sq.ft, which increased to Rs 332 per sq.ft in 2003, marking a 14% rise. The value then rose substantially to Rs 900 per sq.ft in 2007, reflecting a 171% increase. Following this, there was a remarkable jump to Rs 3,500 per sq.ft in 2012, a 289% increase. However, in 2017, the value decreased to Rs 2,345 per sq.ft, indicating a decline of 33%. The value then increased again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 11% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1240%. The register has no figures for the years not mentioned in this summary.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which matches the guideline value of Odai Street.

• Officers Colony 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Officers Colony 1st Main Road: Rs 5,000 per sq.ft (2024)
• Officers Colony 1st Street: Rs 5,000 per sq.ft (2024)
• Officers Colony 2nd Cross Street: Rs 5,000 per sq.ft (2024)
• Officers Colony 2nd Main Road: Rs 5,000 per sq.ft (2024)
• Officers Colony 2nd Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Odai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

When buying or selling property in Adambakkam, the guideline value is a crucial factor in determining the registration fees and stamp duty. The guideline value serves as a benchmark for transactions, ensuring that the property is registered at a value that reflects the current market standards set by the government.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are conducted fairly and transparently, in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Odai Street?

The current guideline value of Odai Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 291 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 1240% over the years.

What is the land classification for Odai Street?

Odai Street is classified as Residential Class I Type - III, which indicates its suitability for residential purposes.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for Odai Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.