Guideline Value for Othavadai Cross Street

Othavadai Cross Street guideline value

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

How the guideline value of Othavadai Cross Street has changed

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a reduction of 33%. In the following revisions, the value increased significantly, reaching Rs 1,000 per sq.ft in 2023 and then rising to Rs 1,100 per sq.ft in the 2024 revision, a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 Othavadai Cross Street guideline value is above this median, reflecting its current valuation.

• Othavadai 1st 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 Cross Street

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

Which Sub Registrar Office covers Othavadai Cross Street?

The Othavadai Cross Street is covered by 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 crucial when buying or selling property, as it determines the minimum price at which a property can be registered. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives its due revenue from property transactions.

When a buyer or seller engages in a transaction, the guideline value is assessed to determine the applicable fees. This ensures that all parties are aware of the financial obligations involved in the registration process, thereby facilitating a smoother transaction.

Frequently asked questions

What is the current guideline value of Othavadai Cross Street?

The current guideline value of Othavadai 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 from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Othavadai Cross Street?

Othavadai Cross Street is classified as Mixed Type - III land according to the Thirukazhukundram SRO.

What are the registration fees for property transactions?

The registration fees are based on the guideline value, which is Rs 1,100 per sq.ft for Othavadai Cross Street. The fees include a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Which office handles the registration for Othavadai Cross Street?

The registration for Othavadai Cross Street is handled by the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.