Guideline Value for Oothavadai Street

Oothavadai Street guideline value

The current guideline value of Oothavadai Street is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Ikkadu village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class II Type - II.

How the guideline value of Oothavadai Street has changed

The guideline value for Oothavadai Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 80 per sq.ft, which increased significantly to Rs 400 per sq.ft in the 2012 revision, marking a 400% rise. However, the value dropped to Rs 268 per sq.ft in the 2017 revision, which was a decrease of 33%. The 2023 revision maintained the value at Rs 400 per sq.ft, and the current 2024 revision also holds the same value, indicating no change from the previous year.

There are no figures available in the register for the years 2002 and 2003 for Oothavadai Street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Ikkadu

In Ikkadu village, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,400 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which aligns with the guideline value of Oothavadai Street.

• New.M.O. Sampath Nagar: Rs 500 per sq.ft (2024)
• New Ganapathi Nagar: Rs 500 per sq.ft (2024)
• Post office street: Rs 500 per sq.ft (2024)
• Mettu street: Rs 500 per sq.ft (2024)
• Mandapam street: Rs 500 per sq.ft (2024)
• Makka Nagar 3rd street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Oothavadai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Oothavadai Street?

The Sub Registrar Office that covers Oothavadai Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ikkadu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during 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 duties and fees. This ensures that the government receives the correct amount based on the property's value.

Frequently asked questions

What is the current guideline value of Oothavadai Street?

The current guideline value of Oothavadai Street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and has remained at Rs 400 per sq.ft in 2023 and 2024.

What is the median guideline value for streets in Ikkadu?

The median guideline value for streets in Ikkadu is Rs 400 per sq.ft, which is the same as the guideline value for Oothavadai Street.

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

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which office should I approach for registration in Oothavadai Street?

The Tiruvallur Joint 1 Sub Registrar Office is responsible for registration in Oothavadai Street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.