Guideline Value for Othandeeswarar Nagar

Othandeeswarar Nagar guideline value

The current guideline value of Othandeeswarar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Othandeeswarar Nagar has changed

Over the years, the guideline value for Othandeeswarar Nagar has seen significant changes. The 2007 revision set the value at Rs 150 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 1233%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, a rise of 10% from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1367%.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Othandeeswarar Nagar.

• Om Mahalakshmi Nagar Residency Layout Phase II: Rs 2,760 per sq.ft (2024)
• Om Mahalakshmi nagar: Rs 2,200 per sq.ft (2024)
• Palani nagar: Rs 2,200 per sq.ft (2024)
• Palankottai street: Rs 3,250 per sq.ft (2024)
• Pali Mohandoss Street: Rs 2,200 per sq.ft (2024)
• North mada street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Othandeeswarar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Othandeeswarar Nagar?

The Sub Registrar Office that covers Othandeeswarar Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Poonthamallee. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer and seller agree on a sale price, the registration process will consider the higher of the sale price or the guideline value for calculating the applicable duties and fees. This ensures that transactions are transparent and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Othandeeswarar Nagar?

The current guideline value of Othandeeswarar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1367% over the years.

What is the land classification of Othandeeswarar Nagar?

Othandeeswarar Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated in Othandeeswarar Nagar?

Stamp duty in Othandeeswarar Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.