Guideline Value for Othavadai Extension Ward 8

Othavadai Extension Ward 8 guideline value

The current guideline value of Othavadai Extension Ward 8 is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Acharapakkam village under the Acchirapakkam SRO, and it is classified as Residential Special Type - I.

How the guideline value of Othavadai Extension Ward 8 has changed

The guideline value for Othavadai Extension Ward 8 has undergone several revisions over the years. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012, marking a 200% rise. However, the value decreased to Rs 201 per sq.ft in 2017, a decline of 33%. The most recent revisions in 2023 and 2024 have maintained the value at Rs 400 per sq.ft, showing no change from 2023 to 2024.

From 2017 to 2023, there was a substantial increase of 99%. Overall, from the 2007 revision to the current 2024 figure, there has been a remarkable increase of 300% in the guideline value.

Guideline values in Acharapakkam

Acharapakkam village has a total of 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft, with the median value being Rs 400 per sq.ft. The guideline value of Othavadai Extension Ward 8 aligns with this median.

• Othavadai Street: Rs 400 per sq.ft (2024)
• Om Sakthi Nagar Ward 9: Rs 400 per sq.ft (2024)
• North Colony: Rs 250 per sq.ft (2024)
• Pallipattu Salai Ward 8: Rs 400 per sq.ft (2024)
• Nehru Nagar: Rs 400 per sq.ft (2024)
• National Highway Ward 9: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Othavadai Extension Ward 8

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, making a total of Rs 36,000. It is important to note that the 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 Othavadai Extension Ward 8?

The Sub Registrar Office that covers Othavadai Extension Ward 8 is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Acharapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Othavadai Extension Ward 8?

The current guideline value of Othavadai Extension Ward 8 is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 100 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What are the other streets in Acharapakkam with similar guideline values?

Other streets in Acharapakkam, such as Othavadai Street, Om Sakthi Nagar Ward 9, Pallipattu Salai Ward 8, Nehru Nagar, and National Highway Ward 9, also have a guideline value of Rs 400 per sq.ft in 2024.

Where is the Acchirapakkam Sub Registrar Office located?

The Acchirapakkam Sub Registrar Office is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

How is stamp duty calculated for properties in Othavadai Extension Ward 8?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.