Guideline Value for Otha vadai Street

Otha vadai Street guideline value

The current guideline value of Otha vadai Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Otha vadai Street has changed

The guideline value of Otha vadai Street has seen several revisions over the years. In 2007, the value was Rs 620 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it dropped to Rs 2,010 per sq.ft in 2017 before rising again to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft.

Between the revisions, there were notable changes: from 2007 to 2012, the value increased by 384%; from 2012 to 2017, it decreased by 33%; from 2017 to 2023, it rose by 49%; and from 2023 to 2024, it increased by 10%. The overall change from 2007 to 2024 reflects an increase of 432%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

Kodambakkam has 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, making Otha vadai Street's 2024 figure below that median.

• Ottar Palayam 10th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 11th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 12th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 13th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 1st Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Otha vadai Street

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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Otha vadai Street?

The Sub Registrar Office that covers Otha vadai Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

When buying or selling property in Kodambakkam, the guideline value is used to determine the stamp duty and registration fees. It is essential to refer to the current guideline value to calculate these costs accurately during the registration process.

The guideline value also serves as a benchmark for property transactions, ensuring that the prices reflect the official valuation set by the government. This helps maintain transparency in property dealings and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Otha vadai Street?

The current guideline value of Otha vadai 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 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 432% over the years.

What are the stamp duty and registration fees for properties on Otha vadai Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees amount to Rs 2,97,000 based on the current guideline value.

Which Sub Registrar Office is responsible for Otha vadai Street?

The Ashok Nagar Sub Registrar Office is responsible for Otha vadai Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Otha vadai Street?

Otha vadai Street is classified as Residential Class IV Type - II, indicating its designation for residential purposes.