Guideline Value for Othavadai 1st Cross Street

Othavadai 1st Cross Street guideline value

The current guideline value of Othavadai 1st Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Mamallapuram village, under the Thirukazhukundram SRO, and is classified as Mixed Type - III land.

How the guideline value of Othavadai 1st Cross Street has changed

The guideline value for Othavadai 1st Cross Street has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, before reaching the current value of Rs 1,100 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 935 per sq.ft. The guideline value for Othavadai 1st Cross Street is above this median.

• Othavadai Cross Street: Rs 1,100 per sq.ft (2024)
• Othavadai Street: Rs 1,485 per sq.ft (2024)
• Padasalai Cross Street: Rs 550 per sq.ft (2024)
• Padasalai Cross Street 1,2,3,4,5,6,7: Rs 550 per sq.ft (2024)
• Padasalai Street: Rs 1,100 per sq.ft (2024)
• Old Arts Collage Road, East side, West side: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Othavadai 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Othavadai 1st Cross Street?

The Sub Registrar Office that covers Othavadai 1st Cross Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Mamallapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the buying and selling process.

When you register a property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Othavadai 1st Cross Street?

The current guideline value of Othavadai 1st Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. The value saw a significant decrease from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017.

What is the land classification for Othavadai 1st Cross Street?

Othavadai 1st Cross Street is classified as Mixed Type - III land. This classification can affect various regulations and uses for the property.

What are the stamp duty rates applicable in Mamallapuram?

The stamp duty rate applicable in Mamallapuram is 7%, while the registration fee is 2%. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Othavadai 1st Cross Street?

The Thirukazhukundram Sub Registrar Office covers Othavadai 1st Cross Street and is located at Thiruchengode - 637 211, Chengalpattu registration zone.